Molson Coors Beverage (NYSE:TAP) Plans Quarterly Dividend of $0.44

Molson Coors Beverage (NYSE:TAP) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.44 per share on Friday, December 20th. This represents a $1.76 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, December 6th.

Molson Coors Beverage has increased its dividend by an average of 42.2% per year over the last three years. Molson Coors Beverage has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Molson Coors Beverage to earn $5.98 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 29.4%.

Molson Coors Beverage Stock Down 0.2 %

Shares of NYSE TAP traded down $0.13 during trading on Friday, reaching $60.34. 783,772 shares of the stock were exchanged, compared to its average volume of 1,908,833. The business’s 50-day moving average price is $56.73 and its 200 day moving average price is $54.46. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company posted $1.92 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Piper Sandler lifted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Finally, UBS Group increased their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.31.

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.