According to Zacks, “Although Molson Coors lagged the industry in the past month due to its soft top and bottom line results in first-quarter 2019, its portfolio premiumization efforts and robust innovation pipeline bode well to bolster growth in the future. Moreover, the company’s restructuring initiatives to reduce overhead costs and boost profitability bode well. Despite strong pricing gains across all segments, the company’s sales and earnings missed estimates in the first quarter owing to soft volume, adverse currency and cost inflation in all segments. The company estimates softness in the U.S. beer industry, higher input costs and adverse currency to remain deterrents in 2019. Nonetheless, the company’s bottom line gained from global net pricing in all segments, lower G&A expenses and cost savings as well as lower interest expenses, which led to a year over year increase.”
A number of other analysts have also weighed in on the stock. Jefferies Financial Group reiterated a sell rating on shares of Molson Coors Brewing in a report on Wednesday, April 10th. Citigroup dropped their target price on shares of Molson Coors Brewing from $72.00 to $69.00 and set a buy rating for the company in a report on Thursday, February 14th. BMO Capital Markets dropped their target price on shares of Molson Coors Brewing from $85.00 to $80.00 and set an outperform rating for the company in a report on Wednesday, February 13th. Finally, Deutsche Bank lowered shares of Molson Coors Brewing from a buy rating to a hold rating and dropped their target price for the stock from $72.00 to $63.00 in a report on Tuesday, February 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Molson Coors Brewing currently has an average rating of Hold and an average target price of $70.25.
Shares of Molson Coors Brewing stock traded up $1.45 during trading on Thursday, reaching $61.37. 1,707,977 shares of the stock were exchanged, compared to its average volume of 1,755,180. The company has a current ratio of 0.64, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $13.05 billion, a P/E ratio of 12.18, a P/E/G ratio of 3.76 and a beta of 0.79. Molson Coors Brewing has a 1 year low of $54.17 and a 1 year high of $71.04.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.05). The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Molson Coors Brewing had a return on equity of 7.89% and a net margin of 8.37%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. Research analysts forecast that Molson Coors Brewing will post 4.62 earnings per share for the current fiscal year.
In related news, CEO Simon Cox sold 9,497 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $60.69, for a total value of $576,372.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.48% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acima Private Wealth LLC bought a new position in shares of Molson Coors Brewing during the fourth quarter valued at approximately $25,000. Wakefield Asset Management LLLP bought a new position in shares of Molson Coors Brewing during the fourth quarter valued at approximately $26,000. Pinnacle Bank bought a new position in shares of Molson Coors Brewing during the fourth quarter valued at approximately $34,000. Massey Quick Simon & CO. LLC bought a new position in shares of Molson Coors Brewing during the first quarter valued at approximately $36,000. Finally, Investors Research Corp bought a new position in shares of Molson Coors Brewing during the first quarter valued at approximately $36,000. 76.41% of the stock is owned by institutional investors.
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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