Susquehanna Bancshares Reiterates “$80.00” Price Target for Molson Coors Brewing (TAP)

Susquehanna Bancshares set a $80.00 price objective on Molson Coors Brewing (NYSE:TAP) in a report issued on Monday morning. The firm currently has a buy rating on the stock.

TAP has been the topic of several other reports. Zacks Investment Research upgraded Molson Coors Brewing from a hold rating to a buy rating and set a $92.00 price objective on the stock in a research note on Monday, February 19th. Berenberg Bank upgraded Molson Coors Brewing from a sell rating to a hold rating and set a $78.00 price objective on the stock in a research note on Thursday, February 8th. BMO Capital Markets assumed coverage on Molson Coors Brewing in a research note on Monday, February 5th. They issued an outperform rating and a $95.00 price objective on the stock. Barclays set a $74.00 price objective on Molson Coors Brewing and gave the company a buy rating in a research note on Thursday, May 3rd. Finally, Citigroup reduced their price objective on Molson Coors Brewing from $88.00 to $74.00 and set a buy rating on the stock in a research note on Friday, May 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $81.54.

Molson Coors Brewing opened at $60.26 on Monday, according to Marketbeat Ratings. Molson Coors Brewing has a 52 week low of $59.93 and a 52 week high of $60.48. The firm has a market cap of $12.95 billion, a PE ratio of 13.48, a PEG ratio of 1.54 and a beta of 0.81. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 0.70.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.60 billion. Molson Coors Brewing had a return on equity of 6.81% and a net margin of 10.95%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. equities research analysts predict that Molson Coors Brewing will post 4.89 earnings per share for the current fiscal year.

In other Molson Coors Brewing news, CEO Mark Hunter sold 2,070 shares of the firm’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $61.26, for a total value of $126,808.20. Following the sale, the chief executive officer now directly owns 147,275 shares in the company, valued at $9,022,066.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $71.24, for a total value of $184,867.80. Following the completion of the sale, the insider now owns 49,946 shares in the company, valued at $3,558,153.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,868 shares of company stock worth $328,054. 2.55% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new stake in shares of Molson Coors Brewing during the first quarter worth about $102,000. Ostrum Asset Management acquired a new stake in shares of Molson Coors Brewing during the first quarter worth about $103,000. Cerebellum GP LLC acquired a new stake in shares of Molson Coors Brewing during the fourth quarter worth about $129,000. Valeo Financial Advisors LLC increased its position in shares of Molson Coors Brewing by 58.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock worth $153,000 after purchasing an additional 686 shares in the last quarter. Finally, Dupont Capital Management Corp increased its position in shares of Molson Coors Brewing by 94.9% during the fourth quarter. Dupont Capital Management Corp now owns 2,468 shares of the company’s stock worth $203,000 after purchasing an additional 1,202 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.

About Molson Coors Brewing

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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