Molson Coors Beverage (TAP) To Go Ex-Dividend on December 6th

Molson Coors Beverage (NYSE:TAP) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.44 per share on Friday, December 20th. This represents a $1.76 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, December 6th.

Molson Coors Beverage has raised its dividend payment by an average of 42.2% per year over the last three years. Molson Coors Beverage has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Molson Coors Beverage to earn $5.98 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 29.4%.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $61.48 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The company’s fifty day moving average price is $57.70 and its two-hundred day moving average price is $54.60. The firm has a market capitalization of $12.67 billion, a P/E ratio of 13.85, a P/E/G ratio of 2.39 and a beta of 0.85. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TAP shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen lowered their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $60.00.

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.