Molson Coors Beverage (NYSE:TAP) Announces Quarterly Earnings Results

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

Molson Coors Beverage Trading Up 7.1 %

Shares of NYSE TAP traded up $3.78 during mid-day trading on Thursday, hitting $57.23. The stock had a trading volume of 3,507,991 shares, compared to its average volume of 1,827,209. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The business has a 50 day moving average price of $56.57 and a two-hundred day moving average price of $56.25. The firm has a market cap of $11.79 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays dropped their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.36.

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.