Molson Coors Brewing Company PT Raised to $76.00 at JPMorgan Chase & Co. (TAP)
Equities researchers at JPMorgan Chase & Co. increased their price objective on shares of Molson Coors Brewing Company (NYSE:TAP) from $65.00 to $76.00 in a research report issued on Thursday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 6.92% from the company’s current price.
A number of other firms have also recently commented on TAP. Analysts at Stifel Nicolaus raised their price target on shares of Molson Coors Brewing Company from $87.00 to $90.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $76.25.
Molson Coors Brewing Company (NYSE:TAP) traded down 1.94% on Thursday, hitting $69.70. The stock had a trading volume of 389,948 shares. Molson Coors Brewing Company has a 52-week low of $48.18 and a 52-week high of $75.55. The stock has a 50-day moving average of $72.18 and a 200-day moving average of $62.77. The company has a market cap of $12.878 billion and a P/E ratio of 18.71.
Molson Coors Brewing Company (NYSE:TAP) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.50 earnings per share. The company’s revenue for the quarter 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. Investors 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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