Stifel Nicolaus reissued their buy rating on shares of Molson Coors Brewing Company (NYSE:TAP) in a research report released on Friday. Stifel Nicolaus currently has a $111.00 price target on the stock.
A number of other analysts also recently issued reports on the company. Susquehanna Bancshares Inc set a $114.00 price target on Molson Coors Brewing and gave the company a buy rating in a research report on Saturday, June 3rd. Societe Generale cut Molson Coors Brewing from a buy rating to a hold rating and decreased their price target for the stock from $118.00 to $98.00 in a research note on Thursday, May 4th. Cowen and Company reaffirmed a market perform rating and issued a $100.00 price target on shares of Molson Coors Brewing in a research note on Wednesday, May 31st. UBS AG reiterated a neutral rating and issued a $96.00 price objective (down from $100.00) on shares of Molson Coors Brewing in a research report on Friday, June 9th. Finally, J P Morgan Chase & Co started coverage on 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. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $112.27.
Molson Coors Brewing (NYSE TAP) traded down 0.43% during mid-day trading on Friday, hitting $87.51. 974,418 shares of the stock were exchanged. Molson Coors Brewing has a 1-year low of $85.34 and a 1-year high of $112.19. The stock has a 50 day moving average price of $91.09 and a 200 day moving average price of $95.46. The company has a market capitalization of $18.84 billion, a PE ratio of 9.40 and a beta of 0.91.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, May 3rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by $0.55. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Molson Coors Brewing had a net margin of 23.53% and a return on equity of 6.73%. The company’s revenue for the quarter was up 278.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. On average, equities analysts anticipate that Molson Coors Brewing will post $6.49 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 17.60%.
Institutional investors have recently bought and sold shares of the stock. Amica Retiree Medical Trust acquired a new position in Molson Coors Brewing during the first quarter valued at approximately $105,000. Penserra Capital Management LLC increased its position in Molson Coors Brewing by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after buying an additional 104 shares in the last quarter. Advisory Services Network LLC bought a new position in Molson Coors Brewing during the first quarter valued at about $130,000. Lloyds Banking Group plc bought a new position in Molson Coors Brewing during the first quarter valued at about $154,000. Finally, Foster & Motley Inc. bought a new position in Molson Coors Brewing during the first quarter valued at about $208,000. 76.38% of the stock is currently owned by hedge funds and other institutional investors.
Molson Coors Brewing Company Profile
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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