Morgan Stanley Begins Coverage on Molson Coors Brewing (TAP)
Morgan Stanley started coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $88.00 target price on the stock.
A number of other brokerages have also recently commented on TAP. Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a research note on Wednesday, December 13th. They issued a buy rating and a $89.00 price objective on the stock. Zacks Investment Research raised shares of 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 Tuesday, January 2nd. Cowen reissued a hold rating and issued a $96.00 price objective on shares of Molson Coors Brewing in a research note on Thursday, September 28th. Susquehanna Bancshares reissued a buy rating on shares of Molson Coors Brewing in a research note on Wednesday, October 11th. Finally, Berenberg Bank reissued a sell rating and issued a $76.00 price objective on shares of Molson Coors Brewing in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing presently has a consensus rating of Hold and a consensus price target of $96.94.
Shares of Molson Coors Brewing (TAP) traded up $1.58 during midday trading on Tuesday, reaching $85.21. 1,795,025 shares of the company were exchanged, compared to its average volume of 1,230,000. The firm has a market cap of $19,710.00, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83. Molson Coors Brewing has a 12-month low of $76.25 and a 12-month high of $102.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.34. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The firm’s revenue was up 204.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. analysts predict that Molson Coors Brewing will post 4.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.41 per share. The ex-dividend date was Wednesday, November 29th. This represents a $1.64 annualized dividend and a dividend yield of 1.92%. Molson Coors Brewing’s dividend payout ratio is currently 15.80%.
In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief financial officer now directly owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.76% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in TAP. Dupont Capital Management Corp acquired a new stake in shares of Molson Coors Brewing during the 3rd quarter worth about $103,000. Krilogy Financial LLC boosted its stake in shares of Molson Coors Brewing by 4,646.4% during the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of Molson Coors Brewing by 14,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 1,341 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Molson Coors Brewing during the 3rd quarter worth about $138,000. Finally, Advisor Group Inc. boosted its stake in shares of Molson Coors Brewing by 48.9% during the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after purchasing an additional 853 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors.
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About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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