Molson Coors Beverage (NYSE:TAP) Releases Earnings Results, Beats Estimates By $0.21 EPS

Molson Coors Beverage (NYSE:TAP) released its quarterly earnings results on Tuesday. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.74 by $0.21, Yahoo Finance reports. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year.

Molson Coors Beverage Stock Up 1.3 %

Shares of NYSE:TAP opened at $57.80 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.29 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90. The company has a fifty day simple moving average of $64.86 and a 200 day simple moving average of $62.33.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.04%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TAP. Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Bank of America cut their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Finally, UBS Group dropped their price target on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.53.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is currently owned by company insiders.

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.