Molson Coors Brewing (NYSE:TAP) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of Molson Coors Brewing (NYSE:TAP) from a strong sell rating to a sell rating in a report issued on Friday, ValuEngine reports.

Several other equities analysts have also issued reports on TAP. Guggenheim lowered their price target on Molson Coors Brewing from $63.00 to $52.00 and set a neutral rating for the company in a research report on Thursday, August 1st. BMO Capital Markets lifted their price target on Molson Coors Brewing to $65.00 in a research report on Thursday, August 1st. Bank of America lowered Molson Coors Brewing from a buy rating to an underperform rating in a research report on Monday, July 15th. Bryan, Garnier & Co reaffirmed a sell rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised Molson Coors Brewing from a sell rating to a hold rating in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $62.91.

Shares of TAP traded up $1.02 during trading hours on Friday, hitting $51.88. The company had a trading volume of 1,482,000 shares, compared to its average volume of 2,106,276. The firm has a fifty day moving average price of $54.42 and a 200-day moving average price of $58.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.47 and a current ratio of 0.64. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 2.59 and a beta of 0.79. Molson Coors Brewing has a 52-week low of $49.92 and a 52-week high of $69.13.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.13). The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. Molson Coors Brewing’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Research analysts anticipate that Molson Coors Brewing will post 4.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.57 dividend. This is a positive change from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.28 dividend on an annualized basis and a yield of 4.39%. Molson Coors Brewing’s payout ratio is 32.54%.

Large investors have recently modified their holdings of the business. Nissay Asset Management Corp Japan ADV raised its position in Molson Coors Brewing by 3.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 18,766 shares of the company’s stock worth $1,119,000 after buying an additional 660 shares during the last quarter. Hi Line Capital Management LLC raised its position in Molson Coors Brewing by 1.3% in the 1st quarter. Hi Line Capital Management LLC now owns 89,365 shares of the company’s stock worth $5,331,000 after buying an additional 1,132 shares during the last quarter. Equity Investment Corp raised its position in Molson Coors Brewing by 13.4% in the 1st quarter. Equity Investment Corp now owns 1,420,903 shares of the company’s stock worth $84,757,000 after buying an additional 167,883 shares during the last quarter. First Republic Investment Management Inc. raised its position in Molson Coors Brewing by 54.5% in the 1st quarter. First Republic Investment Management Inc. now owns 31,069 shares of the company’s stock worth $1,853,000 after buying an additional 10,965 shares during the last quarter. Finally, Adams Asset Advisors LLC raised its position in Molson Coors Brewing by 11.6% in the 2nd quarter. Adams Asset Advisors LLC now owns 102,362 shares of the company’s stock worth $5,732,000 after buying an additional 10,654 shares during the last quarter. 77.59% of the stock is owned by institutional investors and hedge funds.

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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