Molson Coors Beverage (NYSE:TAP) Posts Earnings Results

Molson Coors Beverage (NYSE:TAP) released its quarterly earnings results on Thursday. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15, Briefing.com reports. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $1.92 EPS. The business’s revenue was down 7.8% on a year-over-year basis.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $2.83 during mid-day trading on Friday, reaching $59.56. 3,629,668 shares of the company were exchanged, compared to its average volume of 1,910,368. The firm’s 50-day simple moving average is $55.46 and its two-hundred day simple moving average is $54.43. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a market cap of $12.34 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95.

Analyst Upgrades and Downgrades

TAP has been the subject of several research analyst reports. Barclays raised their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. UBS Group lifted their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $74.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.15.

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.