Molson Coors Brewing Company(NYSE:TAP) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 14, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $2.294B. Analysts estimated a revenue of $2.580B. The revenues were -11.09% below the estimates. Earnings per share were $0.46. The reported EPS was below estimates by -48.31%. Analysts had estimated an EPS of $0.89.
In a different note, Credit Suisse said it Initiates Coverage On Molson Coors Brewing Company, according to a research note issued on Jan 23, 2017. In the research note, the firm Announces the price-target to $106 per share. The shares have been rated ‘Neutral’ by the firm. UBS said it Initiates Coverage On Molson Coors Brewing Company, according to a research note issued on Dec 12, 2016. In the research note, the firm Announces the price-target to $107 per share. The shares have been rated ‘Neutral’ by the firm.
Molson Coors Brewing Company (TAP) shares turned negative on Wednesdays trading session with the shares closing down -0.31 points or -0.31% at a volume of 10,62,457. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $100.81. The peak price level was also seen at $100.81 while the days lowest was $99.76. Finally the shares closed at $100.22. The 52-week high of the shares is $112.19 while the 52-week low is $84.64. According to the latest information available, the market cap of the company is $21,544 M.
Several Insider Transactions has been reported to the SEC. On Nov 25, 2016, Mark Hunter (Pres & CEO) sold 5,851 shares at $100.00 per share price.Also, On Sep 30, 2016, Krishnan Anand (Pres & CEO Molson Coors Int’l) sold 13,000 shares at $110.64 per share price.On Sep 8, 2016, Samuel D Walker (Chief People & Legal Officer) sold 5,033 shares at $105.06 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.