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

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

Molson Coors Beverage Stock Up 3.0 %

NYSE:TAP traded up $1.79 on Friday, reaching $60.33. The stock had a trading volume of 3,271,556 shares, compared to its average volume of 1,538,908. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $56.50 and a 200 day moving average of $56.31. The stock has a market cap of $12.43 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.07 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $62.73.

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.