World: Molson Coors announces quarterly dividend of $0.32 per share

Molson Coors Brewing announced a quarterly dividend on May 22nd, AnalystRatingsNetwork.com reports. Investors of record on Friday, May 31st will be paid a dividend of $0.32 per share on Monday, June 17th. This represents a $1.28 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, May 29th.

A number of research firms have also recently commented on Molson Coors. Analysts at Nomura reiterated a “buy” rating on shares of Molson Coors Brewing in a research note to investors on Thursday, May 16th. They now have a $61.00 price target on the stock. On the ratings front, analysts at Stifel Nicolaus upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating in a research note to investors on Thursday, May 16th. They now have a $60.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing in a research note to investors on Wednesday, May 8th. They now have a $53.00 price target on the stock.

Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.73.

Molson Coors Brewing traded down 1.67% on May, 22, hitting $51.69. Molson Coors Brewing has a 1-year low of $37.96 and a 1-year high of $53.35. The stock’s 50-day moving average is currently $51.21. The company has a market cap of $9.439 billion and a price-to-earnings ratio of 23.99.

Molson Coors Brewing last announced its earnings results on May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.04. The company had revenue of $828.50 million for the quarter, compared to the consensus estimate of $854.16 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts expect that Molson Coors Brewing will post $3.99 EPS for the current fiscal year.

Molson Coors Brewing Company (NYSE: TAP) is a holding company.

23 May, 2013