Molson Coors Brewing Upgraded by EVA Dimensions LLC to “Buy” (TAP)
Molson Coors Brewing (NYSE:TAP) was upgraded by stock analysts at EVA Dimensions LLC from a “hold” rating to a “buy” rating in a report issued on Tuesday, Analyst RN reports.
Molson Coors Brewing (NYSE:TAP) opened at 57.27 on Tuesday. Molson Coors Brewing has a 1-year low of $44.02 and a 1-year high of $57.54. The stock has a 50-day moving average of $54.51 and a 200-day moving average of $52.88. The company has a market cap of $10.545 billion and a P/E ratio of 18.59.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.60. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $0.69 earnings per share. Molson Coors Brewing’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing will post $4.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Wednesday, February 26th. This is a boost from Molson Coors Brewing’s previous quarterly dividend of $0.32.
A number of other analysts have also recently weighed in on TAP. Analysts at Societe Generale upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Monday. They now have a $57.00 price target on the stock, up previously from $50.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing in a research note on Friday, February 14th. They now have a $57.00 price target on the stock. Finally, analysts at Socgen initiated coverage on shares of Molson Coors Brewing in a research note on Friday, January 31st. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Hold” and a consensus price target of $59.67.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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