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

Molson Coors Beverage (NYSE:TAP - Free Report) - Stock analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for shares of Molson Coors Beverage in a research note issued to investors on Wednesday, May 1st. Wedbush analyst G. Pascarelli now anticipates that the company will earn $5.67 per share for the year, up from their prior 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:TAP - Get Free Report) last released 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. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. Molson Coors Beverage's revenue for the quarter was up 10.7% on a year-over-year basis.

TAP has been the subject of a number of other research reports. Barclays cut their price objective on shares of Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday. TheStreet upgraded Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. Citigroup reduced their target price on Molson Coors Beverage from $56.00 to $53.00 and set a "sell" rating on the stock in a research report on Wednesday. The Goldman Sachs Group upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price target for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.53.

Molson Coors Beverage Stock Performance

NYSE:TAP traded up $0.05 during midday trading on Friday, reaching $57.85. The stock had a trading volume of 2,054,484 shares, compared to its average volume of 1,764,315. The stock has a market cap of $12.30 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.97 and a beta of 0.86. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $64.86 and a two-hundred day simple moving average of $62.33. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tennessee Valley Asset Management Partners bought a new position in shares of Molson Coors Beverage in the fourth quarter worth $29,000. Montag A & Associates Inc. acquired a new position in Molson Coors Beverage during the 4th quarter valued at about $31,000. Stone House Investment Management LLC acquired a new position in Molson Coors Beverage during the 3rd quarter valued at about $32,000. Raleigh Capital Management Inc. raised its position in shares of Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company's stock worth $32,000 after buying an additional 501 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $36,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Molson Coors Beverage 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 value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company's stock, valued at $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.71% of the company's stock.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 3.04%. Molson Coors Beverage's payout ratio is 35.20%.

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.