Molson Coors Brewing (NYSE:TAP) Reaches New 52-Week Low at $51.80

Molson Coors Brewing Co (NYSE:TAP)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $51.80 and last traded at $52.44, with a volume of 1082908 shares traded. The stock had previously closed at $56.92.

A number of research firms have commented on TAP. ValuEngine upgraded Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Jefferies Financial Group restated a “sell” rating on shares of Molson Coors Brewing in a research note on Wednesday, April 10th. Credit Suisse Group cut Air China from a “neutral” rating to an “underperform” rating in a research note on Monday, June 10th. Finally, Bank of America set a $68.00 price target on Inphi and gave the stock a “buy” rating in a research note on Monday, July 15th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Molson Coors Brewing presently has an average rating of “Hold” and a consensus target price of $68.55.

The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 0.61. The firm has a market cap of $12.23 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 2.76 and a beta of 0.82. The stock’s 50 day simple moving average is $55.39.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.05). The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Molson Coors Brewing had a return on equity of 7.92% and a net margin of 7.46%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. On average, equities research analysts anticipate that Molson Coors Brewing Co will post 4.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.57 per share. This is a positive change from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.28 annualized dividend and a dividend yield of 4.38%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 32.54%.

In other Molson Coors Brewing news, CEO Mark Hunter sold 11,287 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $60.06, for a total transaction of $677,897.22. Following the transaction, the chief executive officer now owns 166,743 shares of the company’s stock, valued at $10,014,584.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new position in shares of Molson Coors Brewing during the first quarter worth about $27,000. Synovus Financial Corp purchased a new position in shares of Molson Coors Brewing during the first quarter worth about $30,000. Pinnacle Bank purchased a new position in shares of Molson Coors Brewing during the fourth quarter worth about $34,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Molson Coors Brewing during the first quarter worth about $36,000. Finally, Investors Research Corp purchased a new position in shares of Molson Coors Brewing during the first quarter worth about $36,000. 77.75% of the stock is currently owned by institutional investors.

About Molson Coors Brewing (NYSE:TAP)

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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