Molson Coors Brewing (NYSE:TAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, February 19th. The brokerage currently has a $92.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.44% from the stock’s current price.
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 research analysts have also issued reports on the company. Credit Suisse Group raised Molson Coors Brewing from a “neutral” rating to an “outperform” rating and increased their price target for the company from $94.00 to $96.00 in a research report on Monday, February 12th. Berenberg Bank reaffirmed a “sell” rating and issued a $76.00 price target on shares of Molson Coors Brewing in a research report on Friday, November 3rd. Susquehanna Bancshares set a $108.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a report on Wednesday, November 1st. BMO Capital Markets assumed coverage on Molson Coors Brewing in a report on Monday, February 5th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, Deutsche Bank assumed coverage on Molson Coors Brewing in a report on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing currently has a consensus rating of “Buy” and an average price target of $96.88.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the prior year, the company earned $0.47 EPS. Molson Coors Brewing’s revenue was up 4.5% on a year-over-year basis. research analysts expect that Molson Coors Brewing will post 5.16 earnings per share for the current year.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the transaction, the chairman now owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.76% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Molson Coors Brewing by 3.4% during the fourth quarter. BlackRock Inc. now owns 11,435,122 shares of the company’s stock worth $938,480,000 after purchasing an additional 380,133 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of Molson Coors Brewing by 41.3% during the fourth quarter. Independent Franchise Partners LLP now owns 8,707,547 shares of the company’s stock worth $714,628,000 after purchasing an additional 2,546,533 shares in the last quarter. Maverick Capital Ltd. lifted its stake in shares of Molson Coors Brewing by 65.2% in the fourth quarter. Maverick Capital Ltd. now owns 3,727,466 shares of the company’s stock worth $305,913,000 after acquiring an additional 1,471,573 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Molson Coors Brewing by 12.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,595,387 shares of the company’s stock worth $295,074,000 after acquiring an additional 410,058 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Molson Coors Brewing by 852.1% in the third quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock worth $198,294,000 after acquiring an additional 2,173,761 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.
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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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