Molson Coors Beverage (TAP) to Release Earnings on Thursday

Molson Coors Beverage (NYSE:TAP - Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect Molson Coors Beverage to post earnings of $1.67 per share for the quarter. Molson Coors Beverage has set its FY24 guidance at ~$5.70 EPS.Persons interested in participating in the company's earnings conference call can do so using this link.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm's quarterly revenue was down .4% on a year-over-year basis. On average, analysts expect Molson Coors Beverage to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Molson Coors Beverage Stock Down 1.8 %

Molson Coors Beverage stock traded down $1.00 during trading on Thursday, reaching $54.48. The stock had a trading volume of 1,203,167 shares, compared to its average volume of 1,895,552. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The business has a 50 day moving average price of $55.21 and a 200 day moving average price of $54.71. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.29 billion, a PE ratio of 9.98, a P/E/G ratio of 2.35 and a beta of 0.81.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an "underweight" rating in a report on Wednesday, August 7th. Barclays raised their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an "underweight" rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a "hold" rating in a report on Wednesday, August 7th. Finally, Citigroup cut their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a "sell" rating on the stock in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and a consensus target price of $59.43.

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.