Molson Coors Brewing Company (TAP) is Upgraded by Citigroup to Buy

Molson Coors Brewing Company (TAP) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Molson Coors Brewing Company. Company shares were Reiterated by Stifel on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 119 from a previous price target of $115 .

On the company’s financial health, Molson Coors Brewing Company reported $0.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.43. The company had revenue of $657.20 million for the quarter, compared to analysts expectations of $627.90 million. The company’s revenue was down -6.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Molson Coors Brewing Company opened for trading at $93.32 and hit $98.72 on the upside on Thursday, eventually ending the session at $97.75, with a gain of 4.96% or 4.62 points. The heightened volatility saw the trading volume jump to 88,62,036 shares. Company has a market cap of $20,985 M.

In a different news, on Jun 3, 2016, Krishnan Anand (Pres & CEO Molson Coors Int’l) sold 2,260 shares at $102.00 per share price. According to the SEC, on May 6, 2016, Brenda Davis (Chief Integration Officer) sold 3,000 shares at $98.03 per share price. On Mar 7, 2016, Samuel D Walker (Chief People & Legal Officer) sold 63,800 shares at $88.46 per share price, according to the Form-4 filing with the securities and exchange commission.

Molson Coors Brewing Company (MCBC) is a holding Company that operates as a brewer. The Company has a portfolio of owned and partner brands including Carling Coors Light Molson Canadian and Staropramen brands as well as craft and beers such as Blue Moon Creemore Springs Cobra and Sharp’s Doom Bar. The Company operates in four segments: Molson Coors Canada (MCC or Canada segment) operating in Canada; MillerCoors LLC (MillerCoors or U.S. segment) operating in the United States (U.S.); Molson Coors Europe (Europe segment) operating in Bosnia-Herzegovina Bulgaria Croatia Czech Republic Hungary Montenegro Republic of Ireland Romania Serbia Slovakia and the United Kingdom (U.K.) and Molson Coors International (MCI) operating in various other countries.

Molson Coors Brewing Company

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