Molson Coors Brewing Company (TAP) Declares Quarterly Dividend of $0.37
Molson Coors Brewing Company (NYSE:TAP) declared a quarterly dividend on Wednesday, May 21st, American Banking News.com reports. Shareholders of record on Friday, May 30th will be given a dividend of 0.37 per share on Monday, June 16th. This represents a $1.48 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Wednesday, May 28th.
Several analysts have recently commented on the stock. Analysts at ISI Group upgraded shares of Molson Coors Brewing Company from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. They now have a $75.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. On the ratings front, analysts at Morgan Stanley raised their price target on shares of Molson Coors Brewing Company from $54.00 to $58.00 in a research note on Wednesday, May 14th. Finally, analysts at Societe Generale raised their price target on shares of Molson Coors Brewing Company from $57.00 to $65.00 in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $66.14.
Molson Coors Brewing Company (NYSE:TAP) traded down 0.39% on Wednesday, hitting $64.52. 1,606,009 shares of the company’s stock traded hands. Molson Coors Brewing Company has a 1-year low of $46.94 and a 1-year high of $65.46. The stock’s 50-day moving average is $60.46 and its 200-day moving average is $56.54. The company has a market cap of $11.921 billion and a price-to-earnings ratio of 17.05.
Molson Coors Brewing Company (NYSE:TAP) last released its earnings data on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.20. The company had revenue of $816.00 million for the quarter, compared to the consensus estimate of $818.43 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts expect that Molson Coors Brewing Company will post $4.28 EPS for the current fiscal year.
In other Molson Coors Brewing Company news, CEO Stewart Glendinning unloaded 20,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.74, for a total value of $1,274,800.00. Following the completion of the sale, the chief executive officer now directly owns 91,943 shares in the company, valued at approximately $5,860,447. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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