Molson Coors Beverage (NYSE:TAP) Expected to Post FY2024 Earnings of $5.67 Per Share

Molson Coors Beverage (NYSE:TAPFree Report) – Equities researchers at Wedbush upped their FY2024 earnings estimates for shares of Molson Coors Beverage in a research note issued on Wednesday, May 1st. Wedbush analyst G. Pascarelli now expects that the company will post earnings of $5.67 per share for the year, up from their previous estimate of $5.66. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $5.68 per share. Wedbush also issued estimates for Molson Coors Beverage’s Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $1.94 EPS and Q4 2025 earnings at $1.26 EPS.

Molson Coors Beverage (NYSE:TAPGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share.

A number of other research analysts also recently issued reports on the company. Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target for the company. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday. Bank of America cut their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Barclays lowered their target price on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.53.

Check Out Our Latest Research Report on TAP

Molson Coors Beverage Stock Up 0.1 %

Shares of TAP opened at $57.85 on Friday. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.00 and a beta of 0.86. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The stock’s 50-day moving average price is $64.77 and its 200-day moving average price is $62.34. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Kestra Private Wealth Services LLC increased its holdings in shares of Molson Coors Beverage by 19.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after buying an additional 1,859 shares during the last quarter. International Assets Investment Management LLC raised its position in Molson Coors Beverage by 6,418.1% in the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after purchasing an additional 149,093 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of Molson Coors Beverage by 3.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after purchasing an additional 408 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Molson Coors Beverage by 24.2% in the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after purchasing an additional 2,183 shares during the last quarter. Finally, Beck Bode LLC purchased a new position in shares of Molson Coors Beverage during the 4th quarter worth $1,785,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Increases Dividend

The firm 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. This represents a $1.76 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Molson Coors Beverage Company Profile

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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.

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Earnings History and Estimates for Molson Coors Beverage (NYSE:TAP)

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