Molson Coors Brewing Company to Issue Quarterly Dividend of $0.41 (TAP)
Molson Coors Brewing Company (NYSE:TAP) declared a quarterly dividend on Thursday, November 16th, NASDAQ reports. Shareholders of record on Thursday, November 30th will be paid a dividend of 0.41 per share on Friday, December 15th. This represents a $1.64 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 29th.
Molson Coors Brewing has raised its dividend by an average of 8.6% annually over the last three years. Molson Coors Brewing has a payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Brewing to earn $4.74 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 34.6%.
Shares of Molson Coors Brewing (NYSE:TAP) traded up $0.22 on Friday, reaching $79.54. 1,473,100 shares of the company’s stock were exchanged, compared to its average volume of 1,608,869. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing has a 1 year low of $78.10 and a 1 year high of $102.14. The company has a market capitalization of $17,132.92, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.33 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.34. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The firm’s revenue for the quarter was up 204.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. research analysts forecast that Molson Coors Brewing will post 4.34 EPS for the current year.
A number of analysts have recently commented on the stock. Credit Suisse Group set a $96.00 price objective on shares of Molson Coors Brewing and gave the stock a “hold” rating in a research report on Thursday, August 3rd. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. UBS AG reissued a “neutral” rating and issued a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Brewing in a research report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing presently has a consensus rating of “Hold” and a consensus price target of $98.92.
Molson Coors Brewing Company Profile
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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