Molson Coors Brewing Company Hits New 1-Year High at $73.21 (TAP)
Molson Coors Brewing Company (NYSE:TAP)’s share price reached a new 52-week high during mid-day trading on Thursday , AnalystRatings.Net reports. The company traded as high as $73.21 and last traded at $73.15, with a volume of 516,282 shares. The stock had previously closed at $72.50.
TAP has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Molson Coors Brewing Company from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $80.00 price target on the stock, up previously from $55.00. Separately, analysts at Goldman Sachs raised their price target on shares of Molson Coors Brewing Company to $79.00 in a research note on Wednesday, June 11th. Finally, analysts at Bank of America upgraded shares of Molson Coors Brewing Company from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $80.00 price target on the stock, up previously from $55.00. They noted that the move was a valuation call. Five analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $71.11.
The stock’s 50-day moving average is $65.31 and its 200-day moving average is $58.55. The company has a market cap of $13.517 billion and a P/E ratio of 19.08.
Molson Coors Brewing Company (NYSE:TAP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Company will post $4.30 earnings per share for the current fiscal year.
In other Molson Coors Brewing Company news, CEO Mark Hunter unloaded 25,549 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $71.45, for a total value of $1,825,476.05. The sale was disclosed in a document filed with the SEC, which is available at this link.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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