Molson Coors Beverage (NYSE:TAP) Declares Quarterly Dividend of $0.47

Molson Coors Beverage (NYSE:TAP - Get Free Report) declared a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.47 per share on Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44.

Molson Coors Beverage has increased its dividend payment by an average of 37.3% per year over the last three years. Molson Coors Beverage has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Beverage to earn $5.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 31.6%.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $1.79 during trading hours on Friday, reaching $60.33. 3,269,869 shares of the stock were exchanged, compared to its average volume of 1,965,845. The stock has a market cap of $12.43 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm's 50 day moving average is $56.52 and its 200 day moving average is $56.26.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Analysts predict that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TAP shares. Barclays cut their price objective on shares of Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. StockNews.com raised shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company raised shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Morgan Stanley increased their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.