Molson Coors Brewing Company (NYSE:TAP) announced a quarterly dividend on Friday, July 14th, Wall Street Journal reports. Stockholders of record on Thursday, August 31st will be given a dividend of 0.41 per share on Friday, September 15th. This represents a $1.64 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, August 29th.
Molson Coors Brewing has raised its dividend by an average of 8.6% per year over the last three years. Molson Coors Brewing has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Molson Coors Brewing to earn $6.59 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 24.9%.
Shares of Molson Coors Brewing (TAP) traded up 0.22% on Friday, reaching $90.40. The company had a trading volume of 688,645 shares. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.03 and a beta of 0.91. The stock has a 50 day moving average price of $87.99 and a 200-day moving average price of $93.53. Molson Coors Brewing has a 12 month low of $85.34 and a 12 month high of $112.19.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by $0.38. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. Analysts forecast that Molson Coors Brewing will post $4.31 EPS for the current fiscal year.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total value of $1,582,058.50. Following the completion of the sale, the chief executive officer now owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.53% of the stock is owned by insiders.
Several analysts have weighed in on the company. Susquehanna Bancshares Inc set a $114.00 target price on Molson Coors Brewing and gave the company a “buy” rating in a research note on Saturday, June 3rd. Cowen and Company downgraded Molson Coors Brewing from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $120.00 to $105.00 in a research note on Thursday, April 20th. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the stock a “hold” rating in a research note on Thursday, August 3rd. UBS AG reissued a “neutral” rating and issued a $100.00 price objective (down previously from $108.00) on shares of Molson Coors Brewing in a research note on Friday, May 5th. Finally, Societe Generale downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $118.00 to $98.00 in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Molson Coors Brewing has a consensus rating of “Hold” and an average target price of $111.60.
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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