Molson Coors Brewing Company (TAP) Scheduled to Post Quarterly Earnings on Tuesday
- Author: Zachary Reyes Feb 14, 2017,
Feb 14, 2017, 21:43
Other large investors have also added to or reduced their stakes in the company.
The biggest news for 2016 was completing our acquisition of the remaining 58 percent of MillerCoors and the Miller global brand portfolio for $12 billion, representing the largest transaction in the Company's history, which made Molson Coors the third-largest global brewer. Earnings, adjusted for non-recurring gains, were 46 cents per share, while analysts polled by FactSet, on average, expected 88 cents per share. The company's shares were closed at $96.21. MSI Financial Services Inc now owns 1,458 shares of the company's stock valued at $160,000 after buying an additional 19 shares in the last quarter. Lazard Asset Management LLC now owns 7,212,346 shares of the company's stock worth $791,914,000 after buying an additional 188,718 shares during the period. J.P. Morgan Investment Management Inc.is the second biggest holder with 12 million shares now valued at 1.21 B million whilst Fidelity Management and Research Company has 12 million shares valued at 1.28 B million. The share price is now down -3.06% for the past three months. The company had revenue of $947.60 million for the quarter, compared to analysts expectations of $964.37 million. Post-earnings, Molson Coors Brewing Company stock ranged between $83.3 and $84.64 after opening the day (02/12/2016) at $83.5. (NYSE:CLR) previous 52-week high was $60.30 and moved up 140.20% over the same period, trading at a volume of 1.64 million. The stock's 50-day moving average is $96.97 and its 200 day moving average is $101.07.
Molson Coors bought beer giant SABMiller's stake in the MillerCoors joint venture for $12-billion in October previous year, following SABMiller's agreement to be acquired by Anheuser-Busch InBev for over $100-billion. The stock has an operating margin of 30.40% and a net profit margin of 20.30% This appreciation has taken its price 21.13% above the 52-week low. Symons Capital Management Inc. owned 0.06% of Molson Coors Brewing Company as of its most recent filing with the SEC. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of US and worldwide trademark and copyright legislation.
Several equities research analysts recently issued reports on TAP shares. Finally, Credit Suisse Group initiated coverage on Molson Coors Brewing Company in a research report on Monday, January 23rd. They issued a "neutral" rating and a $106.00 price objective for the company. Susquehanna Bancshares Inc set a $152.00 target price on Molson Coors Brewing Company and gave the stock a "buy" rating in a research report on Sunday, December 4th. Stifel Nicolaus dropped their price target on Molson Coors Brewing Company from $117.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, December 20th. The analyst recommendations from a month ago are 0 Buy, 4 Strong Buy, 0 Sell, 0 Hold and 0. Buy rating has been given by 3 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 3 analysts given HOLD rating. Following the purchase, the chairman now owns 1,000 shares in the company, valued at $127,750.