Molson Coors Brewing Co (TAP) Rating Lowered to Market Perform at Cowen and Company

Molson Coors Brewing Co (NYSE:TAP) was downgraded by research analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday. They currently have a $105.00 price target on the stock, down from their previous price target of $120.00. Cowen and Company’s target price would suggest a potential upside of 10.69% from the stock’s previous close.

Several other analysts have also commented on the stock. Susquehanna Bancshares Inc set a $140.00 price target on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Monday, March 20th. JPMorgan Chase & Co. began coverage on shares of Molson Coors Brewing in a research report on Tuesday, March 21st. They set a “neutral” rating and a $105.00 price target on the stock. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research report on Monday, February 20th. Finally, Credit Suisse Group AG initiated coverage on shares of Molson Coors Brewing in a research report on Monday, January 23rd. They set a “neutral” rating and a $106.00 price target on the stock. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Molson Coors Brewing currently has an average rating of “Buy” and an average price target of $120.44.

Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

Molson Coors Brewing (NYSE:TAP) opened at 94.86 on Thursday. The stock’s 50 day moving average is $96.60 and its 200 day moving average is $99.35. The stock has a market cap of $20.39 billion, a PE ratio of 10.25 and a beta of 0.95. Molson Coors Brewing has a 52 week low of $89.40 and a 52 week high of $112.19.



Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Tuesday, February 14th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.40. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.58 billion. Molson Coors Brewing had a net margin of 11.48% and a return on equity of 7.21%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. Analysts predict that Molson Coors Brewing will post $6.29 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://www.themarketsdaily.com/2017/04/21/molson-coors-brewing-co-tap-lowered-to-market-perform-at-cowen-and-company.html.

In other Molson Coors Brewing news, VP Brian Tabolt sold 1,806 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $98.13, for a total transaction of $177,222.78. Following the transaction, the vice president now directly owns 4,231 shares of the company’s stock, valued at $415,188.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.53% of the company’s stock.

A number of institutional investors have recently bought and sold shares of TAP. Institutional Capital LLC increased its position in Molson Coors Brewing by 391.7% in the fourth quarter. Institutional Capital LLC now owns 1,966,809 shares of the company’s stock valued at $191,391,000 after buying an additional 1,566,779 shares during the last quarter. Norges Bank bought a new position in Molson Coors Brewing during the fourth quarter valued at about $75,091,000. Adage Capital Partners GP L.L.C. increased its position in Molson Coors Brewing by 94.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,517,994 shares of the company’s stock valued at $166,676,000 after buying an additional 739,000 shares during the last quarter. Third Point LLC increased its position in Molson Coors Brewing by 70.0% in the third quarter. Third Point LLC now owns 1,700,000 shares of the company’s stock valued at $186,660,000 after buying an additional 700,000 shares during the last quarter. Finally, Mason Capital Management LLC bought a new position in Molson Coors Brewing during the third quarter valued at about $72,563,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NYSE:TAP

Receive News & Ratings for Molson Coors Brewing Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Co and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply