Molson Coors Beverage (NYSE:TAP – Get Free Report) released its earnings results on Tuesday. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21, Yahoo Finance reports. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year.
Molson Coors Beverage Trading Down 9.9 %
NYSE TAP opened at $57.26 on Wednesday. The firm’s 50-day moving average is $65.07 and its two-hundred day moving average is $62.40. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $12.17 billion, a P/E ratio of 13.14, a PEG ratio of 2.19 and a beta of 0.84.
Molson Coors Beverage Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 3.07%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.
Insider Buying and Selling at Molson Coors Beverage
Analysts Set New Price Targets
A number of analysts have weighed in on TAP shares. Citigroup lowered Molson Coors Beverage from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $66.00 to $56.00 in a research note on Wednesday, April 24th. Barclays raised their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.07.
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.
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