Molson Coors Brewing (NYSE:TAP) Price Target Cut to $38.00 by Analysts at Morgan Stanley

Molson Coors Brewing (NYSE:TAP) had its price objective trimmed by Morgan Stanley from $41.00 to $38.00 in a research report released on Wednesday morning, AnalystRatings.net reports. The firm currently has an equal weight rating on the stock.

Several other research analysts also recently weighed in on TAP. Credit Suisse Group began coverage on shares of Molson Coors Brewing in a research report on Monday, July 13th. They set a sell rating and a $31.00 price target for the company. Bryan, Garnier & Co upgraded shares of Molson Coors Brewing from a sell rating to a buy rating and set a $49.00 price target for the company in a research report on Wednesday, July 15th. ValuEngine cut shares of Molson Coors Brewing from a sell rating to a strong sell rating in a research note on Thursday, August 6th. Zacks Investment Research raised shares of Molson Coors Brewing from a hold rating to a strong-buy rating and set a $38.00 price objective for the company in a research note on Monday, September 28th. Finally, Barclays reaffirmed a hold rating and set a $40.00 price objective on shares of Molson Coors Brewing in a research note on Sunday, July 19th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing currently has an average rating of Hold and a consensus price target of $47.07.

TAP opened at $35.40 on Wednesday. Molson Coors Brewing has a twelve month low of $32.11 and a twelve month high of $61.94. The company has a quick ratio of 0.50, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $35.45 and a 200 day moving average price of $37.82. The company has a market cap of $7.67 billion, a PE ratio of -47.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.86.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.87. Molson Coors Brewing had a negative net margin of 1.33% and a positive return on equity of 7.18%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Molson Coors Brewing will post 3.69 earnings per share for the current year.

In other news, Director Louis Vachon purchased 3,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $35.28 per share, with a total value of $105,840.00. Following the purchase, the director now directly owns 26,467 shares in the company, valued at approximately $933,755.76. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.43% of the company’s stock.

Several institutional investors have recently bought and sold shares of TAP. Amundi Pioneer Asset Management Inc. grew its stake in shares of Molson Coors Brewing by 19.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 247,248 shares of the company’s stock valued at $14,749,000 after buying an additional 41,054 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Molson Coors Brewing by 2.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 26,347 shares of the company’s stock worth $1,028,000 after purchasing an additional 721 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Molson Coors Brewing by 10.3% during the 1st quarter. Nuveen Asset Management LLC now owns 461,275 shares of the company’s stock worth $17,994,000 after purchasing an additional 42,950 shares during the period. MML Investors Services LLC boosted its position in shares of Molson Coors Brewing by 13.5% during the 1st quarter. MML Investors Services LLC now owns 5,647 shares of the company’s stock worth $220,000 after purchasing an additional 672 shares during the period. Finally, APG Asset Management N.V. boosted its position in shares of Molson Coors Brewing by 4.9% during the 1st quarter. APG Asset Management N.V. now owns 52,900 shares of the company’s stock worth $2,810,000 after purchasing an additional 2,454 shares during the period. 74.19% 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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