Molson Coors Brewing Company Price Target Raised to $90.00 at Stifel Nicolaus (TAP)
Equities research analysts at Stifel Nicolaus hoisted their price target on shares of Molson Coors Brewing Company (NYSE:TAP) from $87.00 to $90.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 26.62% from the stock’s previous close.
TAP has been the subject of a number of other recent research reports. Analysts at Nomura raised their price target on shares of Molson Coors Brewing Company from $62.00 to $65.00 in a research note on Monday, July 21st. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley upgraded shares of Molson Coors Brewing Company from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. They noted that the move was a valuation call. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Molson Coors Brewing Company currently has an average rating of “Buy” and an average price target of $74.88.
Molson Coors Brewing Company (NYSE:TAP) traded down 0.58% during mid-day trading on Thursday, hitting $70.67. The stock had a trading volume of 126,778 shares. Molson Coors Brewing Company has a one year low of $48.18 and a one year high of $75.55. The stock’s 50-day moving average is $72.18 and its 200-day moving average is $62.77. The company has a market cap of $13.057 billion and a P/E ratio of 18.71.
Molson Coors Brewing Company (NYSE:TAP) last announced its earnings results on Wednesday, August 6th. The company reported $1.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.46 by $0.11. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Company will post $4.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 27th.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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