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

Molson Coors Beverage (NYSE:TAP) released its quarterly earnings results on Thursday. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13, Zacks reports. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%.

Molson Coors Beverage Price Performance

Shares of TAP stock traded up $3.78 during trading hours on Thursday, reaching $57.23. The stock had a trading volume of 3,507,991 shares, compared to its average volume of 1,827,209. The stock’s fifty day simple moving average is $56.57 and its 200 day simple moving average is $56.25. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The firm has a market capitalization of $11.79 billion, a PE ratio of 12.90, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.08%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of research analyst reports. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Barclays dropped their price target 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. Finally, BNP Paribas started coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $62.36.

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.