Molson Coors Brewing (TAP) Downgraded to Hold at Stifel Nicolaus

Molson Coors Brewing (TAP) has been downgraded today by the securities research analysts at investment firm Stifel Nicolaus which lowered Molson Coors Brewing from a “buy” rating to “hold.”  While Stifel Nicolaus did not provide any price target expectation on TAP they did mention that the company may jointly bid for Foster’s and noted the company does not have much interest in balancing its own balance sheet which lowers its options of following through with significant acquisitions.

Shares of TAP gapped down during the beginning of the normal market session and descended beneath intermediate support but has rallied late in the day prior to the market close.  Throughout 2011 there has been a considerable amount of whipsaw price action for TAP which may be an optimal ‘playground’ for day-traders but unless shareholders are buying on the pullback to it has so far done little for long-term shareholders.

Molson Coors is slated to release their next earnings report on August 2nd, 2011, and the current consensus EPS estimate is expected to be $1.30.  Their last earnings report was released on May 3rd, 2011, and announced EPS of 43 cents with revenue totaling $690.4 million which was up 4.4 % year to year.  TAP is trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

Molson was founded in 1786, and Coors was founded in 1873.  In August 2003, Coors changed its state of incorporation to the State of Delaware. In February 2005 upon completion of the Merger, Coors changed its name to Molson Coors Brewing Company.  The company has market capitalization of $7,176,626,220 and 162,147,000  shares outstanding.  TAP has a 52-week high of $51.11 with the low being $41.88 dollars.

Latest News

Bancor  Market Capitalization Hits $30.15 Million
Bancor Market Capitalization Hits $30.15 Million
Sugar Exchange  Reaches Market Cap of $81,568.00
Sugar Exchange Reaches Market Cap of $81,568.00
Becton Dickinson and Co  Receives Consensus Recommendation of “Buy” from Brokerages
Becton Dickinson and Co Receives Consensus Recommendation of “Buy” from Brokerages
Brokerages Set Horizon Technology Finance Corp  Target Price at $11.50
Brokerages Set Horizon Technology Finance Corp Target Price at $11.50
Catalyst Pharmaceuticals  Shares Gap Up  on Analyst Upgrade
Catalyst Pharmaceuticals Shares Gap Up on Analyst Upgrade
First Quantum Minerals Limited  Given Consensus Recommendation of “Buy” by Brokerages
First Quantum Minerals Limited Given Consensus Recommendation of “Buy” by Brokerages


© 2006-2018 Ticker Report