Zacks Investment Research lowered shares of Molson Coors Brewing (NYSE:TAP) from a buy rating to a hold rating in a report issued on Wednesday.
According to Zacks, “Molson Coors has been gaining from its focus on above-premium brands, which now form nearly 20% of its total annual brand volumes. Also, the company is making efforts to gain share in the U.S. premium light segment through Coors Light and Miller Lite brands. These factors, focus on cost savings, better pricing and royalty volumes drove results in fourth-quarter 2017. Both the top and bottom line beat estimates and retained the solid year-on-year growth trend, helping the company surpass the industry in the past three months. However, U.S. volumes continued to be soft, with weakness across STRs and STWs due to industry woes. This, along with input cost inflation raises concerns. Nonetheless, Molson Coors’ raised cost savings target, expected gains from tax reforms, focus on First Choice and efforts to strengthen balance sheet bode well. In 2017, the company reduced debt by more than $600 million and also exceeded its free cash flow goal.”
A number of other equities analysts have also commented on the stock. Susquehanna Bancshares set a $107.00 price target on shares of Molson Coors Brewing and gave the stock a buy rating in a research report on Monday, February 12th. Credit Suisse Group raised shares of Molson Coors Brewing from a neutral rating to an outperform rating and raised their price target for the stock from $94.00 to $96.00 in a research report on Monday, February 12th. Berenberg Bank raised shares of Molson Coors Brewing from a sell rating to a hold rating and set a $78.00 price target on the stock in a research report on Thursday, February 8th. BMO Capital Markets started coverage on shares of Molson Coors Brewing in a research report on Monday, February 5th. They set an outperform rating and a $95.00 price target on the stock. Finally, Stifel Nicolaus reissued a buy rating and issued a $112.00 target price on shares of Molson Coors Brewing in a report on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing currently has a consensus rating of Buy and a consensus target price of $96.88.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm earned $0.47 earnings per share. Molson Coors Brewing’s revenue for the quarter was up 4.5% compared to the same quarter last year. analysts anticipate that Molson Coors Brewing will post 5.12 EPS for the current year.
In other news, CFO Tracey Joubert sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the sale, the chief financial officer now directly owns 22,839 shares in the company, valued at approximately $1,807,706.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Peter H. Coors sold 55,603 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the sale, the chairman now owns 319,222 shares in the company, valued at $27,137,062.22. The disclosure for this sale can be found here. 2.76% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new stake in shares of Molson Coors Brewing in the 3rd quarter valued at approximately $103,000. Cerebellum GP LLC acquired a new stake in shares of Molson Coors Brewing in the 4th quarter valued at approximately $129,000. Meeder Asset Management Inc. acquired a new stake in shares of Molson Coors Brewing in the 3rd quarter valued at approximately $138,000. Valeo Financial Advisors LLC boosted its stake in shares of Molson Coors Brewing by 58.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock valued at $153,000 after purchasing an additional 686 shares in the last quarter. Finally, WealthPLAN Partners LLC acquired a new stake in shares of Molson Coors Brewing in the 4th quarter valued at approximately $212,000. Institutional investors own 77.05% of the company’s stock.
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Molson Coors Brewing Company Profile
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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