Cowen and Company reissued their hold rating on shares of Molson Coors Brewing Company (NYSE:TAP) in a research report report published on Friday. Cowen and Company currently has a $96.00 target price on the stock.
Several other research firms also recently commented on TAP. Susquehanna Bancshares Inc set a $114.00 price objective on Molson Coors Brewing and gave the company a buy rating in a research note on Saturday, June 3rd. J P Morgan Chase & Co initiated coverage on Molson Coors Brewing in a research note on Tuesday, March 21st. They issued a neutral rating and a $105.00 price objective for the company. Vetr raised Molson Coors Brewing from a buy rating to a strong-buy rating and set a $103.20 price objective for the company in a research note on Wednesday, May 3rd. UBS AG reissued a neutral rating and issued a $96.00 price objective (down from $100.00) on shares of Molson Coors Brewing in a research note on Friday, June 9th. Finally, Societe Generale downgraded Molson Coors Brewing from a buy rating to a hold rating and reduced their price objective for the company from $118.00 to $98.00 in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $112.27.
Molson Coors Brewing (NYSE TAP) traded down 0.05% on Friday, hitting $87.47. 427,113 shares of the company were exchanged. Molson Coors Brewing has a 52-week low of $85.34 and a 52-week high of $112.19. The stock has a market capitalization of $18.83 billion, a P/E ratio of 9.40 and a beta of 0.91. The stock’s 50-day moving average price is $91.09 and its 200-day moving average price is $95.46.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, May 3rd. The company reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.55. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.46 billion. Molson Coors Brewing had a return on equity of 6.73% and a net margin of 23.53%. The company’s quarterly revenue was up 278.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, equities research 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 announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 17.60%.
Hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in shares of Molson Coors Brewing by 33.3% in the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock worth $1,690,969,000 after buying an additional 4,417,205 shares during the period. Vanguard Group Inc. increased its stake in shares of Molson Coors Brewing by 3.8% in the first quarter. Vanguard Group Inc. now owns 17,305,767 shares of the company’s stock worth $1,656,335,000 after buying an additional 630,539 shares during the period. BlackRock Inc. increased its stake in shares of Molson Coors Brewing by 3,905.7% in the first quarter. BlackRock Inc. now owns 10,676,010 shares of the company’s stock worth $1,021,799,000 after buying an additional 10,409,488 shares during the period. Lazard Asset Management LLC increased its stake in shares of Molson Coors Brewing by 1.3% in the first quarter. Lazard Asset Management LLC now owns 7,922,358 shares of the company’s stock worth $758,247,000 after buying an additional 99,486 shares during the period. Finally, State Street Corp increased its stake in shares of Molson Coors Brewing by 1.7% in the first quarter. State Street Corp now owns 7,685,254 shares of the company’s stock worth $735,565,000 after buying an additional 130,584 shares during the period. 76.38% of the stock is owned by institutional investors and hedge funds.
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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