Molson Coors Brewing Co (NYSE:TAP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Molson Coors Brewing Co (NYSE:TAP) have received a consensus recommendation of “Hold” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.70.

TAP has been the topic of several research reports. BMO Capital Markets raised their price objective on Molson Coors Brewing to $65.00 in a report on Thursday, August 1st. ValuEngine upgraded Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a report on Friday. Bank of America downgraded Molson Coors Brewing from a “buy” rating to an “underperform” rating in a report on Monday, July 15th. Bryan, Garnier & Co restated a “sell” rating and set a $51.00 price objective on shares of Molson Coors Brewing in a report on Thursday, August 1st. Finally, Guggenheim reduced their price objective on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st.

Several large investors have recently made changes to their positions in TAP. Geode Capital Management LLC raised its position in Molson Coors Brewing by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 2,550,361 shares of the company’s stock valued at $142,989,000 after buying an additional 194,378 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of Molson Coors Brewing by 1.2% during the 1st quarter. Retirement Systems of Alabama now owns 87,383 shares of the company’s stock valued at $5,212,000 after purchasing an additional 1,067 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Molson Coors Brewing by 18.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 44,428 shares of the company’s stock valued at $2,650,000 after purchasing an additional 6,800 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Molson Coors Brewing by 21.3% during the 1st quarter. IFM Investors Pty Ltd now owns 13,263 shares of the company’s stock valued at $791,000 after purchasing an additional 2,332 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Molson Coors Brewing by 40.1% during the 1st quarter. Gulf International Bank UK Ltd now owns 3,757 shares of the company’s stock valued at $224,000 after purchasing an additional 1,076 shares during the last quarter. Institutional investors and hedge funds own 77.59% of the company’s stock.

Shares of NYSE TAP traded up $1.02 during midday trading on Friday, hitting $51.88. The company’s stock had a trading volume of 1,482,000 shares, compared to its average volume of 2,123,849. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $54.42 and its two-hundred day moving average is $58.39. Molson Coors Brewing has a 12-month low of $49.92 and a 12-month high of $69.13. The firm has a market cap of $11.00 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.13). The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. On average, analysts predict that Molson Coors Brewing will post 4.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.57 dividend. The ex-dividend date is Thursday, August 29th. This is an increase from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.39%. Molson Coors Brewing’s dividend payout ratio (DPR) is currently 32.54%.

About Molson Coors Brewing

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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