Molson Coors Beverage (TAP) publishes quarterly results on Tuesday

Molson Coors Beverage (NYSE:TAP – Get Free Report) will report its quarterly results before the market opens on Tuesday, April 30. Analysts expect Molson Coors Beverage to post earnings of $0.70 per share for the quarter. Individuals wishing to listen to the company’s earnings conference call can do so via this link.

Molson Coors Beverage (NYSE:TAP – Get Free Report) last reported its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s revenue rose 6.1% year over year. During the same period last year, the company posted earnings per share of $1.30. On average, analysts expect Molson Coors Beverage to post earnings per share of $6 for the current fiscal year and earnings per share of $6 for the next fiscal year.

Molson Coors liquor business rises 0.5%

Shares of NYSE:TAP opened at $64.52 on Tuesday. The stock has a 50-day moving average of $65.02 and a 200-day moving average of $62.27. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90.

Molson Coors Beverage increases dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15. The record investors on Friday, March 1, received a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a dividend of $1.76 annually and a dividend yield of 2.73%. Molson Coors Beverage’s payout ratio is 40.37%.

Insider activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of stock in a transaction on Monday, February 12. The stock sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Currently, 2.71% of the shares are owned by insiders.

Wall Street analysts weigh in

Several research agencies have looked into TAP. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” in a research note on Tuesday, February 13. Citigroup raised their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17. Barclays raised their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equalweight” rating in a research note on Friday, April 12. Finally, Piper Sandler reported on Molson Coors Beverage in a research note on Friday, March 22. They issued a “neutral” rating and a $69.00 price target for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.73.

Read our latest research report on Molson Coors Beverage

Molson Coors Beverage Company Profile

(Get a free report)

Molson Coors Beverage Company produces, 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 beverages, spirits and energy, and ready-to-drink beverages.

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