Molson Coors Brewing (NYSE:TAP) Now Covered by MKM Partners

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Analysts at MKM Partners initiated coverage on shares of Molson Coors Brewing (NYSE:TAP) in a report released on Thursday, September 19th, MarketBeat.com reports. The brokerage set a “buy” rating and a $66.00 price target on the stock. MKM Partners’ price objective would indicate a potential upside of 17.73% from the stock’s current price.

Several other brokerages have also weighed in on TAP. Bryan, Garnier & Co reaffirmed a “sell” rating and issued a $51.00 target price on shares of Molson Coors Brewing in a research report on Thursday, August 1st. Credit Suisse Group initiated coverage on Molson Coors Brewing in a research report on Monday, June 10th. They issued an “underperform” rating and a $50.00 target price on the stock. ValuEngine lowered Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 11th. Guggenheim cut their target price on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Finally, BMO Capital Markets increased their target price on Molson Coors Brewing to $65.00 in a research report on Thursday, August 1st. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.60.

Shares of Molson Coors Brewing stock traded up $0.34 during trading hours on Thursday, reaching $56.06. 996,538 shares of the company’s stock were exchanged, compared to its average volume of 1,468,745. Molson Coors Brewing has a 52-week low of $49.92 and a 52-week high of $67.62. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 2.34 and a beta of 0.78. The company has a fifty day moving average of $54.69 and a 200-day moving average of $56.40. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.13). The business 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 period in the prior year, the company earned $1.88 EPS. On average, equities research analysts anticipate that Molson Coors Brewing will post 4.36 earnings per share for the current fiscal year.

In other Molson Coors Brewing news, VP Brian Tabolt sold 1,825 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $56.94, for a total value of $103,915.50. Following the transaction, the vice president now directly owns 6,218 shares of the company’s stock, valued at $354,052.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.48% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Greylin Investment Mangement Inc. raised its position in Molson Coors Brewing by 234.2% in the third quarter. Greylin Investment Mangement Inc. now owns 15,455 shares of the company’s stock valued at $889,000 after purchasing an additional 10,830 shares during the period. Cypress Capital Group acquired a new stake in shares of Molson Coors Brewing during the third quarter valued at about $385,000. Pacer Advisors Inc. grew its stake in shares of Molson Coors Brewing by 27.0% during the third quarter. Pacer Advisors Inc. now owns 30,206 shares of the company’s stock valued at $1,737,000 after acquiring an additional 6,428 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of Molson Coors Brewing during the third quarter valued at about $8,418,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Molson Coors Brewing during the third quarter valued at about $129,000. 76.26% of the stock is currently owned by institutional investors.

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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