Molson Coors Brewing Co (NYSE:TAP) Stock Rating Reaffirmed by Stifel Nicolaus

Molson Coors Brewing Co (NYSE:TAP)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a research note issued on Friday, July 14th. They presently have a $111.00 price target on the stock. Stifel Nicolaus’ target price suggests a potential upside of 22.64% from the company’s current price.

A number of other brokerages have also issued reports on TAP. Susquehanna Bancshares Inc set a $140.00 price objective on shares of Molson Coors Brewing and gave the company a “buy” rating in a report on Monday, March 20th. BidaskClub lowered shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Societe Generale lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and cut their price objective for the company from $118.00 to $98.00 in a report on Thursday, May 4th. Cowen and Company increased their price objective on shares of Molson Coors Brewing from $96.00 to $100.00 and gave the company a “market perform” rating in a report on Friday, June 9th. Finally, UBS AG reiterated a “neutral” rating and set a $100.00 target price (down from $108.00) on shares of Molson Coors Brewing in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Hold” and an average target price of $111.60.

Shares of Molson Coors Brewing (TAP) opened at 90.51 on Friday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.04 and a beta of 0.91. Molson Coors Brewing has a 12 month low of $85.34 and a 12 month high of $112.19. The firm’s 50-day moving average is $87.31 and its 200 day moving average is $93.80.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by $0.38. Molson Coors Brewing had a net margin of 10.57% and a return on equity of 10.89%. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the business earned $1.11 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts expect that Molson Coors Brewing will post $4.31 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its stake in Molson Coors Brewing by 11.6% in the fourth quarter. GSA Capital Partners LLP now owns 2,829 shares of the company’s stock worth $275,000 after buying an additional 294 shares during the last quarter. Numeric Investors LLC acquired a new stake in Molson Coors Brewing during the fourth quarter worth $389,000. UBS Asset Management Americas Inc. raised its stake in Molson Coors Brewing by 19.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 522,895 shares of the company’s stock worth $50,881,000 after buying an additional 84,491 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in Molson Coors Brewing during the fourth quarter worth $1,301,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Molson Coors Brewing during the fourth quarter worth $581,000. Institutional investors and hedge funds own 76.33% of the company’s stock.

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.