Molson Coors Beverage (NYSE:TAP) Posts Earnings Results, Beats Estimates By $0.13 EPS

Molson Coors Beverage (NYSE:TAP) released its quarterly earnings results on Thursday. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13, Zacks reports. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded up $1.79 during trading on Friday, hitting $60.33. 3,271,556 shares of the company were exchanged, compared to its average volume of 1,538,908. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.07 and a beta of 0.85. The firm has a 50 day moving average price of $56.50 and a 200 day moving average price of $56.31.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of research reports. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $74.00 in a report on Friday, November 8th. JPMorgan Chase & Co. lowered their price objective on 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, Barclays lowered their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.73.

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.