Molson Coors Beverage (NYSE:TAP) Releases Earnings Results, Beats Expectations 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, topping 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%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded up $1.79 during midday trading on Friday, reaching $60.33. 3,271,556 shares of the company were exchanged, compared to its average volume of 1,538,908. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a fifty day simple moving average of $56.50 and a 200 day simple moving average of $56.31. The stock has a market cap of $12.43 billion, a P/E ratio of 13.59, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.12%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TAP. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. UBS Group increased their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $62.73.

About Molson Coors Beverage

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.