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

Molson Coors Beverage (NYSE:TAP) released its quarterly earnings data on Thursday. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 2.2 %

NYSE:TAP opened at $59.81 on Friday. The company has a market cap of $12.32 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. 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 12 month low of $49.19 and a 12 month high of $69.18. The company has a 50 day simple moving average of $56.52 and a two-hundred day simple moving average of $56.26.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BNP Paribas began coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Morgan Stanley boosted their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday. UBS Group reduced their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.40.

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.