Molson Coors Brewing Company Hits New 12-Month High at $66.88 (TAP)
Molson Coors Brewing Company (NYSE:TAP)’s share price hit a new 52-week high during trading on Monday , Analyst RN reports. The company traded as high as $66.88 and last traded at $66.85, with a volume of 411,573 shares traded. The stock had previously closed at $66.72.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing Company in a research note on Tuesday, May 27th. They now have a $68.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $67.00.
The stock has a 50-day moving average of $62.72 and a 200-day moving average of $57.49. The company has a market cap of $12.399 billion and a price-to-earnings ratio of 17.56.
Molson Coors Brewing Company (NYSE:TAP) last announced its earnings results on Wednesday, May 7th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.30 earnings per share. Molson Coors Brewing Company’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing Company will post $4.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, May 28th.
In other Molson Coors Brewing Company news, Chairman Peter H. Coors sold 27,300 shares of the company’s stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $65.52, for a total value of $1,788,696.00. The sale was disclosed in a legal filing 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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