MKM Partners Initiates Coverage on Molson Coors Brewing (NYSE:TAP)

MKM Partners began coverage on shares of Molson Coors Brewing (NYSE:TAP) in a report published on Thursday, BenzingaRatingsTable reports. The firm issued a buy rating and a $66.00 price objective on the stock.

Several other analysts also recently issued reports on the company. ValuEngine downgraded Molson Coors Brewing from a sell rating to a strong sell rating in a research note on Wednesday, September 11th. BMO Capital Markets boosted their price target on Molson Coors Brewing to $65.00 in a research note on Thursday, August 1st. Bryan, Garnier & Co restated a sell rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research note on Thursday, August 1st. Guggenheim reduced their price target on Molson Coors Brewing from $63.00 to $52.00 and set a neutral rating for the company in a research note on Thursday, August 1st. Finally, Bank of America downgraded Molson Coors Brewing from a buy rating to an underperform rating in a research note on Monday, July 15th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Molson Coors Brewing currently has a consensus rating of Hold and an average price target of $63.60.

TAP opened at $56.26 on Thursday. The business has a fifty day simple moving average of $52.77 and a 200 day simple moving average of $56.81. The company has a market capitalization of $11.91 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. Molson Coors Brewing has a 1 year low of $49.92 and a 1 year high of $67.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.64 and a quick ratio of 0.47.



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

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.05%. This is an increase from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, August 29th. Molson Coors Brewing’s dividend payout ratio is presently 45.24%.

In other news, VP Brian Tabolt sold 1,825 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $56.94, for a total transaction of $103,915.50. Following the completion of the sale, the vice president now directly owns 6,218 shares in the company, valued at approximately $354,052.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.48% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new position in shares of Molson Coors Brewing during the 1st quarter worth $27,000. Synovus Financial Corp acquired a new position in shares of Molson Coors Brewing during the 1st quarter worth $30,000. Ossiam acquired a new position in shares of Molson Coors Brewing during the 2nd quarter worth $31,000. Capital Bank & Trust Co acquired a new position in shares of Molson Coors Brewing during the 2nd quarter worth $39,000. Finally, Coastal Investment Advisors Inc. raised its holdings in shares of Molson Coors Brewing by 62.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 762 shares of the company’s stock worth $44,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

Molson Coors Brewing Company Profile

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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