Molson Coors Brewing Company Given Average Recommendation of “Buy” by Brokerages (NYSE:TAP)
Shares of Molson Coors Brewing Company (NYSE:TAP) have earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, Analyst Ratings News reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $75.71.
Molson Coors Brewing Company (NYSE:TAP) opened at 71.19 on Tuesday. 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 $72.10 and a 200-day moving average of $62.88. The company has a market cap of $13.156 billion and a P/E ratio of 17.78.
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. Analysts expect that Molson Coors Brewing Company will post $4.36 EPS 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.
In other Molson Coors Brewing Company news, CEO Krishnan Anand sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $70.00, for a total transaction of $175,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Molson Coors Brewing Company from $65.00 to $76.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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