Molson Coors Beverage (NYSE:TAP) Releases Earnings Results, Beats Expectations By $0.04 EPS

Molson Coors Beverage (NYSE:TAP) posted its quarterly earnings results on Wednesday. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.04, FiscalAI reports. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%.

Molson Coors Beverage Stock Down 0.0%

Molson Coors Beverage stock traded down $0.01 during mid-day trading on Wednesday, hitting $50.90. The company had a trading volume of 4,431,687 shares, compared to its average volume of 3,079,760. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. Molson Coors Beverage has a 1 year low of $42.94 and a 1 year high of $64.66. The business has a fifty day moving average of $48.74 and a 200 day moving average of $47.84. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of -4.77 and a beta of 0.48.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio is currently -17.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company set a $54.00 target price on shares of Molson Coors Beverage in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a research note on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price objective on the stock. UBS Group upped their price objective on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Needham & Company LLC cut their target price on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Jefferies Financial Group decreased their price objective on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.43.

Hedge Funds Weigh In On Molson Coors Beverage

Several hedge funds have recently made changes to their positions in TAP. Smartleaf Asset Management LLC lifted its holdings in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in Molson Coors Beverage during the fourth quarter worth approximately $36,000. IFP Advisors Inc lifted its stake in Molson Coors Beverage by 134.2% in the third quarter. IFP Advisors Inc now owns 787 shares of the company’s stock valued at $38,000 after buying an additional 451 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares during the period. Finally, Zions Bancorporation National Association UT boosted its holdings in shares of Molson Coors Beverage by 808.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 1,017 shares of the company’s stock valued at $47,000 after acquiring an additional 905 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.