Molson Coors Brewing (NYSE:TAP) Reaches New 12-Month Low at $49.84

Shares of Molson Coors Brewing Co (NYSE:TAP) reached a new 52-week low during trading on Tuesday . The company traded as low as $49.84 and last traded at $49.84, with a volume of 5165 shares trading hands. The stock had previously closed at $50.67.

Several research firms recently weighed in on TAP. Citigroup set a $60.00 price objective on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research report on Friday, November 1st. Berenberg Bank restated a “hold” rating and issued a $51.00 target price on shares of Molson Coors Brewing in a research report on Friday, November 1st. MKM Partners set a $63.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Friday, November 1st. Redburn Partners reiterated a “sell” rating on shares of Molson Coors Brewing in a research report on Friday, October 11th. Finally, Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 price objective on the stock in a research note on Monday, November 4th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.62.

The firm’s fifty day moving average is $53.93 and its 200-day moving average is $54.75. The company has a market capitalization of $10.96 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.87 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. As a group, analysts expect that Molson Coors Brewing Co will post 4.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, November 29th. Molson Coors Brewing’s payout ratio is 45.24%.

In related news, VP Brian Tabolt sold 1,825 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $56.94, for a total transaction of $103,915.50. Following the sale, the vice president now owns 6,218 shares of the company’s stock, valued at approximately $354,052.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.48% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ossiam acquired a new position in Molson Coors Brewing during the 2nd quarter worth about $31,000. CWM LLC lifted its position in shares of Molson Coors Brewing by 1,000.0% in the 3rd quarter. CWM LLC now owns 550 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Molson Coors Brewing by 141.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 567 shares of the company’s stock valued at $33,000 after purchasing an additional 332 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new stake in shares of Molson Coors Brewing in the 3rd quarter valued at $35,000. Finally, Capital Bank & Trust Co acquired a new stake in shares of Molson Coors Brewing during the second quarter worth $39,000. 77.79% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Brewing Company Profile (NYSE:TAP)

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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