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

Molson Coors Beverage (NYSE:TAP - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13, Briefing.com reports. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm's revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS.

Molson Coors Beverage Stock Up 1.6 %

Shares of NYSE:TAP traded up $0.94 during mid-day trading on Monday, hitting $60.50. 2,361,152 shares of the company traded hands, compared to its average volume of 1,912,461. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.53 billion, a P/E ratio of 13.63, a P/E/G ratio of 2.60 and a beta of 0.82. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The stock has a 50-day moving average price of $55.70 and a two-hundred day moving average price of $54.25.

Wall Street Analysts Forecast Growth

TAP has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. UBS Group increased their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a "hold" rating in a research report on Wednesday, August 7th. Jefferies Financial Group cut their price target on Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating on the stock in a report on Thursday, July 18th. Finally, TD Cowen lowered their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.31.

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.