Q2 2024 EPS Estimates for Molson Coors Beverage Cut by Analyst (NYSE:TAP)

Molson Coors Beverage (NYSE:TAP) – Investment analysts at Wedbush lowered their Q2 2024 EPS estimates for Molson Coors Beverage in a research note issued on Wednesday, May 1st. Wedbush analyst G. Pascarelli now expects that the company will post earnings of $1.71 per share for the quarter, down from their previous forecast of $1.78. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $5.67 per share. Wedbush also issued estimates for Molson Coors Beverage’s Q3 2024 earnings at $1.79 EPS, Q4 2024 earnings at $1.22 EPS and Q1 2025 earnings at $0.92 EPS.

Several other analysts also recently weighed in on TAP. Citigroup decreased their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Piper Sandler started coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Evercore ISI cut their price target on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $65.53.

Molson Coors Beverage Stock Up 1.7 %

Shares of NYSE TAP opened at $58.27 on Monday. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 2.09 and a beta of 0.86. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $64.57 and its 200-day moving average price is $62.35. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis.

Hedge Funds Weigh In On Molson Coors Beverage

A number of large investors have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC raised its position in shares of Molson Coors Beverage by 19.5% in the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after buying an additional 1,859 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after buying an additional 149,093 shares during the last quarter. SkyView Investment Advisors LLC raised its position in shares of Molson Coors Beverage by 3.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after buying an additional 408 shares during the period. Metis Global Partners LLC boosted its holdings in Molson Coors Beverage by 24.2% in the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after acquiring an additional 2,183 shares during the last quarter. Finally, Beck Bode LLC purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $1,785,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling

In other news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 3.02%. Molson Coors Beverage’s payout ratio is presently 35.20%.

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.