Credit Suisse Initiates Coverage on Molson Coors Brewing Company (TAP)
Equities research analysts at Credit Suisse started coverage on shares of Molson Coors Brewing Company (NYSE:TAP) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
In other Molson Coors Brewing Company news, CEO Krishnan Anand unloaded 2,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $70.00, for a total value of $175,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of other firms have also recently commented on TAP. Analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing Company in a research note on Monday. They now have a $75.00 price target on the stock. Separately, 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, August 7th. They now have a “neutral” rating on the stock. Finally, 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, August 7th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $75.63.
Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 72.55 on Thursday. Molson Coors Brewing Company has a one year low of $48.18 and a one year high of $75.55. The stock has a 50-day moving average of $71.92 and a 200-day moving average of $63.32. The company has a market cap of $13.429 billion and a P/E ratio of 18.43.
Molson Coors Brewing Company (NYSE:TAP) last announced its earnings results on Wednesday, August 6th. The company reported $1.57 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.50 earnings per share. Molson Coors Brewing Company’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing Company will post $4.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, August 27th.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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