Molson Coors Beverage (NYSE:TAP) Issues Earnings Results

Key Points

• Molson Coors Beverage reported a Q2 2023 EPS of $2.05, surpassing analysts' expectations of $1.90, despite a 1.6% decline in quarterly revenue compared to the same period last year.
• The company announced a quarterly dividend of $0.47 per share, representing an annualized yield of 3.8%, with a dividend payout ratio of 37.83%.
• Multiple analysts have downgraded their ratings for Molson Coors Beverage, with average target prices now hovering around $58.87, reflecting a cautious outlook from Wall Street.

Molson Coors Beverage (NYSE:TAP - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.83 by $0.22, Zacks reports. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company posted $1.92 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage updated its FY 2025 guidance to 5.360-5.540 EPS.

Molson Coors Beverage Trading Down 0.6%

Shares of Molson Coors Beverage stock traded down $0.28 during trading on Thursday, hitting $49.93. 381,899 shares of the company were exchanged, compared to its average volume of 2,458,382. The firm has a market capitalization of $10.09 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. Molson Coors Beverage has a 1-year low of $46.94 and a 1-year high of $64.66. The firm's fifty day moving average price is $50.06 and its 200 day moving average price is $55.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.59.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.83%.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director directly owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.71% of the company's stock.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors have recently modified their holdings of the stock. Woodline Partners LP lifted its stake in shares of Molson Coors Beverage by 38.7% in the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company's stock valued at $885,000 after purchasing an additional 4,056 shares during the period. United Services Automobile Association purchased a new position in shares of Molson Coors Beverage in the 1st quarter valued at approximately $215,000. Caxton Associates LLP purchased a new position in shares of Molson Coors Beverage in the 1st quarter valued at approximately $202,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after purchasing an additional 198 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TAP. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Needham & Company LLC reduced their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Morgan Stanley reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $58.05.

About Molson Coors Beverage

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.