Molson Coors Beverage (NYSE:TAP) Announces Earnings Results, Beats Estimates By $0.13 EPS

Molson Coors Beverage (NYSE:TAP) posted its quarterly earnings data on Thursday. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13, Zacks reports. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $59.81 on Friday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The business’s fifty day simple moving average is $56.52 and its 200-day simple moving average is $56.26. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.32 billion, a PE ratio of 13.47, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.94%. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TAP shares. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, UBS Group lowered their target price on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $62.40.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.