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

Molson Coors Beverage (NYSE:TAP) announced its earnings results on Thursday. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 Stock Up 6.8 %

NYSE:TAP traded up $3.63 during trading hours on Thursday, reaching $57.08. The company’s stock had a trading volume of 3,365,185 shares, compared to its average volume of 1,821,269. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $11.76 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock has a 50 day moving average price of $56.57 and a two-hundred day moving average price of $56.25. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TAP shares. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. UBS Group dropped their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage Company Profile

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.