Molson Coors Beverage (TAP) to Release Quarterly Earnings on Tuesday

Molson Coors Beverage (NYSE:TAP) is set to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Molson Coors Beverage to post earnings of $0.70 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion during 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 firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. On average, analysts expect Molson Coors Beverage to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Molson Coors Beverage Trading Up 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 PE 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis 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 the stock in a transaction on Monday, February 12th. The stock was 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 is accessible through this link. 2.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on TAP. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Citigroup upped 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 16th. Deutsche Bank Aktiengesellschaft upped 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 17th. Barclays upped their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Finally, Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. 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 issued a hold rating and three have assigned 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.

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.