Molson Coors Brewing (NYSE:TAP) issued its earnings results on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13), Briefing.com reports. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share.
Shares of TAP opened at $50.86 on Friday. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. Molson Coors Brewing has a twelve month low of $49.92 and a twelve month high of $69.13. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $54.49 and a two-hundred day moving average of $58.42.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.48%. This is an increase from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, August 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is 32.54%.
A number of research firms have recently issued reports on TAP. BMO Capital Markets increased their price objective on shares of Molson Coors Brewing to $65.00 in a research note on Thursday, August 1st. Guggenheim dropped their price objective on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. Bank of America downgraded shares of Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research note on Monday, July 15th. Credit Suisse Group began coverage on shares of Molson Coors Brewing in a research note on Monday, June 10th. They set an “underperform” rating and a $50.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $62.91.
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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