Molson Coors Beverage (NYSE:TAP) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Molson Coors Beverage (NYSE:TAP - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.21, Yahoo Finance reports. The business had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.50 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded down $0.18 during mid-day trading on Wednesday, hitting $57.08. 2,840,016 shares of the stock were exchanged, compared to its average volume of 1,748,615. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The company has a 50-day simple moving average of $65.07 and a 200 day simple moving average of $62.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The company has a market capitalization of $12.14 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.19 and a beta of 0.84.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.44 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 3.08%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 40.37%.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company's stock, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.71% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TAP. 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 research report on Wednesday, April 17th. Piper Sandler began coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a "neutral" rating and a $69.00 price objective on the stock. Bank of America cut their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating on the stock in a research report on Wednesday. Evercore ISI cut their price objective on shares of Molson Coors Beverage from $70.00 to $68.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, Citigroup cut their price objective on shares of Molson Coors Beverage from $56.00 to $53.00 and set a "sell" rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has an average rating of "Hold" and a consensus price target of $65.87.

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.