Molson Coors Brewing Company Reaches New 12-Month High at $75.61 (TAP)
Molson Coors Brewing Company (NYSE:TAP) shares hit a new 52-week high during trading on Tuesday , AmericanBankingNews.com reports. The company traded as high as $75.61 and last traded at $75.31, with a volume of 284,580 shares. The stock had previously closed at $75.18.
A number of research firms have recently commented on TAP. Analysts at Credit Suisse initiated coverage on shares of Molson Coors Brewing Company in a research note on Thursday, August 14th. They set an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing Company in a research note on Monday, August 11th. They now have a $75.00 price target on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.63.
The stock’s 50-day moving average is $71.9 and its 200-day moving average is $63.7. The company has a market cap of $13.921 billion and a price-to-earnings ratio of 19.18.
Molson Coors Brewing Company (NYSE:TAP) last posted its quarterly earnings results 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. Analysts expect that Molson Coors Brewing Company will post $4.38 EPS 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 1.97%. The ex-dividend date is Wednesday, August 27th.
In other Molson Coors Brewing Company news, CEO Krishnan Anand unloaded 2,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $70.00, for a total transaction of $175,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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