Brokerages Set Molson Coors Brewing Co (TAP) Price Target at $74.08
Molson Coors Brewing Co (NYSE:TAP) has been given an average rating of “Hold” by the fifteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $74.08.
Several brokerages have recently commented on TAP. Jefferies Financial Group began coverage on shares of Molson Coors Brewing in a research report on Friday, September 7th. They issued an “underperform” rating and a $55.00 target price for the company. Berenberg Bank set a $67.00 target price on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Tuesday, September 11th. Zacks Investment Research restated a “hold” rating on shares of Molson Coors Brewing in a research report on Friday. Susquehanna Bancshares boosted their target price on shares of Molson Coors Brewing from $80.00 to $84.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Finally, Citigroup dropped their target price on shares of Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, November 1st.
In related news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $61.42, for a total transaction of $159,384.90. Following the completion of the transaction, the insider now directly owns 49,578 shares in the company, valued at approximately $3,045,080.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 7,785 shares of company stock valued at $499,512. 2.55% of the stock is owned by corporate insiders.
Shares of NYSE:TAP opened at $64.74 on Friday. The company has a market capitalization of $13.97 billion, a PE ratio of 14.48, a PEG ratio of 2.87 and a beta of 0.56. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. Molson Coors Brewing has a 12 month low of $55.52 and a 12 month high of $85.86.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, October 31st. The company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.59 by $0.25. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Molson Coors Brewing had a net margin of 12.05% and a return on equity of 7.58%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 EPS. As a group, research analysts expect that Molson Coors Brewing will post 4.97 EPS for the current year.
Molson Coors Brewing Company Profile
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.
Read More: Debt-To-Equity Ratio
Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.