Molson Coors Beverage (NYSE:TAP) Releases Earnings Results

Molson Coors Beverage (NYSE:TAP - Get Free Report) announced its earnings results on Thursday. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13, Zacks reports. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%.

Molson Coors Beverage Stock Performance

TAP stock traded up $1.79 during midday trading on Monday, reaching $60.33. The stock had a trading volume of 3,271,556 shares, compared to its average volume of 1,538,908. The stock has a market cap of $12.43 billion, a PE 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. The firm has a fifty day simple moving average of $56.50 and a two-hundred day simple moving average of $56.36. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. Molson Coors Beverage's dividend payout ratio (DPR) is 39.64%.

Analysts Set New Price Targets

Several analysts have issued reports on TAP shares. Barclays dropped their target price on Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating on the stock in a research report on Friday, January 17th. StockNews.com raised Molson Coors Beverage from a "hold" rating to a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus target price 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.