Morgan Stanley Lowers Molson Coors Brewing Earnings Estimates (TAP)
Analysts at Morgan Stanley (NYSE: MS) decreased their earnings per share (EPS) estimates on shares of Molson Coors Brewing (NYSE: TAP) in a research report issued to clients and investors on Monday. The firm currently has an “equal weight” rating on the company’s shares.
Shares of Molson Coors Brewing traded down 0.78% during mid-day trading on Monday, hitting $40.61. Molson Coors Brewing has a 52 week low of $37.99 and a 52 week high of $47.06. The company has a market cap of $7.337 billion and a P/E ratio of 11.22.
Molson Coors Brewing last announced its earnings results on Tuesday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Molson Coors Brewing’s revenue was up .1% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing will post $1.20 earnings per share next quarter.
A number of other firms have also recently commented on TAP. Analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing in a research note to investors on Friday. They now have a $43.00 price target on the stock. Separately, analysts at Bank of America (NYSE: BAC) reiterated an “underperform” rating on shares of Molson Coors Brewing in a research note to investors on Wednesday, March 7th. They now have a $43.00 price target on the stock. Finally, analysts at UBS AG (NYSE: UBS) raised their EPS on shares of Molson Coors Brewing in a research note to investors on Friday, February 17th. They now have a “neutral” rating on the stock.
Molson Coors Brewing Company (MCBC) is a holding company. Its operating subsidiaries include Coors Brewing Company (CBC), operating in the United States prior to the formation of MillerCoors LLC (MillerCoors); Molson Coors Brewing Company (UK) Limited (MCBC-UK), operating in the United Kingdom; Molson Coors Canada (MCC), operating in Canada, and other corporate entities.