Molson Coors Brewing Co (TAP) to Issue Quarterly Dividend of $0.57 on December 13th

Molson Coors Brewing Co (NYSE:TAP) declared a quarterly dividend on Thursday, November 21st, Fidelity reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.57 per share on Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Friday, November 29th.

Shares of TAP traded up $0.16 during mid-day trading on Wednesday, reaching $51.22. 413,303 shares of the company’s stock were exchanged, compared to its average volume of 1,788,127. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.59 and a quick ratio of 0.42. The stock has a market capitalization of $11.31 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. The business’s fifty day simple moving average is $54.56 and its 200-day simple moving average is $54.99. Molson Coors Brewing has a 52-week low of $49.92 and a 52-week high of $67.24.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, October 30th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.87 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. Equities research analysts predict that Molson Coors Brewing will post 4.3 earnings per share for the current year.

In other Molson Coors Brewing news, VP Brian Tabolt sold 1,825 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $56.94, for a total transaction of $103,915.50. Following the sale, the vice president now directly owns 6,218 shares in the company, valued at approximately $354,052.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.48% of the stock is currently owned by insiders.

A number of research firms recently weighed in on TAP. Citigroup set a $60.00 price objective on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Friday, November 1st. Redburn Partners reiterated a “sell” rating on shares of Molson Coors Brewing in a research report on Friday, October 11th. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. MKM Partners set a $63.00 target price on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lowered shares of Molson Coors Brewing from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $62.00 to $55.00 in a research report on Tuesday. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.62.

About Molson Coors Brewing

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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Dividend History for Molson Coors Brewing (NYSE:TAP)

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