Molson Coors Brewing Co to Issue Quarterly Dividend of $0.41 (TAP)
Molson Coors Brewing Co (NYSE:TAP) declared a quarterly dividend on Friday, May 19th. Shareholders of record on Wednesday, May 31st will be given a dividend of 0.41 per share on Thursday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, May 26th.
Molson Coors Brewing has increased its dividend by an average of 8.6% annually over the last three years. Molson Coors Brewing has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Molson Coors Brewing to earn $6.91 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 23.7%.
Molson Coors Brewing (NYSE:TAP) traded up 1.74% during trading on Friday, reaching $94.13. 1,968,849 shares of the company’s stock were exchanged. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 10.11 and a beta of 0.95. The stock has a 50-day moving average price of $94.72 and a 200 day moving average price of $97.36. Molson Coors Brewing has a 52 week low of $89.27 and a 52 week high of $112.19.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, May 3rd. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.31 by $0.55. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Molson Coors Brewing had a return on equity of 7.21% and a net margin of 11.48%. Molson Coors Brewing’s revenue for the quarter was up 278.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Equities research analysts forecast that Molson Coors Brewing will post $6.47 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. Cowen and Company restated an “outperform” rating and set a $120.00 target price on shares of Molson Coors Brewing in a research report on Monday, March 13th. Societe Generale lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $118.00 to $98.00 in a research report on Thursday, May 4th. Vetr upgraded shares of Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 price objective on the stock in a research report on Wednesday, May 3rd. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $114.00 price objective (down from $140.00) on shares of Molson Coors Brewing in a research report on Thursday, May 4th. Finally, JPMorgan Chase & Co. started coverage on shares of Molson Coors Brewing in a research report on Tuesday, March 21st. They issued a “neutral” rating and a $105.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $114.47.
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In related news, VP Brian Tabolt sold 1,806 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $98.13, for a total value of $177,222.78. Following the completion of the transaction, the vice president now owns 4,231 shares of the company’s stock, valued at approximately $415,188.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.53% of the stock is owned by insiders.
About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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