Molson Coors Brewing (NYSE:TAP) Earns Sell Rating from Bryan, Garnier & Co

Bryan, Garnier & Co restated their sell rating on shares of Molson Coors Brewing (NYSE:TAP) in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a $51.00 target price on the stock.

Several other brokerages have also issued reports on TAP. BMO Capital Markets boosted their target price on shares of Molson Coors Brewing to $65.00 in a research report on Thursday. Credit Suisse Group started coverage on shares of Molson Coors Brewing in a research report on Monday, June 10th. They set an underperform rating and a $50.00 target price for the company. Guggenheim cut their target price on shares of Molson Coors Brewing from $63.00 to $52.00 and set a neutral rating for the company in a research report on Thursday. Bank of America lowered shares of Molson Coors Brewing from a buy rating to an underperform rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group restated a sell rating on shares of Molson Coors Brewing in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $62.91.

Shares of TAP stock traded down $0.25 during trading hours on Thursday, reaching $52.24. The company had a trading volume of 1,980,599 shares, compared to its average volume of 1,775,578. The business has a fifty day moving average of $55.25. Molson Coors Brewing has a one year low of $51.80 and a one year high of $69.93. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 2.66 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.39 and a debt-to-equity ratio of 0.60.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.36%. This is a positive change from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, August 29th. Molson Coors Brewing’s payout ratio is 32.54%.

In other Molson Coors Brewing news, CEO Mark Hunter sold 11,287 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $60.06, for a total value of $677,897.22. Following the completion of the transaction, the chief executive officer now directly owns 166,743 shares in the company, valued at $10,014,584.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.48% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Molson Coors Brewing by 7.7% in the first quarter. BlackRock Inc. now owns 16,114,198 shares of the company’s stock worth $961,213,000 after purchasing an additional 1,152,294 shares during the period. Wells Fargo & Company MN boosted its position in shares of Molson Coors Brewing by 0.9% in the first quarter. Wells Fargo & Company MN now owns 4,972,428 shares of the company’s stock worth $296,605,000 after purchasing an additional 46,118 shares during the period. LSV Asset Management boosted its position in shares of Molson Coors Brewing by 7.3% in the first quarter. LSV Asset Management now owns 3,832,197 shares of the company’s stock worth $228,590,000 after purchasing an additional 261,900 shares during the period. Boston Partners boosted its position in shares of Molson Coors Brewing by 223.5% in the first quarter. Boston Partners now owns 3,581,150 shares of the company’s stock worth $213,616,000 after purchasing an additional 2,474,052 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Molson Coors Brewing by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 2,550,361 shares of the company’s stock worth $142,989,000 after purchasing an additional 194,378 shares during the period. Institutional investors and hedge funds own 77.75% of the company’s stock.

About Molson Coors Brewing

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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