Molson Coors Beverage (NYSE:TAP) Issues Earnings Results

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

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $57.08 on Thursday. 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 50-day moving average of $64.96 and a 200-day moving average of $62.36. The firm has a market cap of $12.14 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.98 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of 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 SEC, which is accessible through the SEC website. 2.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TAP has been the topic of a number of research analyst reports. Barclays boosted their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Bank of America dropped their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday. UBS Group dropped their target price on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.87.

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.