Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is based in Golden, Colorado.
Analyst Ratings Changes
TAP has been the topic of a number of recent research reports. Sanford C. Bernstein cut their target price on shares of Molson Coors Beverage to $57.00 in a report on Tuesday, August 9th. UBS Group raised their price objective on shares of Molson Coors Beverage from $54.00 to $58.00 and gave the company a "neutral" rating in a research note on Wednesday, August 3rd. TheStreet lowered shares of Molson Coors Beverage from a "b" rating to a "c+" rating in a research note on Thursday, August 4th. Redburn Partners upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating in a research note on Wednesday, July 13th. Finally, The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus target price of $53.44.
Molson Coors Beverage Trading Up 0.0 %
Molson Coors Beverage stock opened at $56.71 on Monday. The company has a 50 day moving average price of $55.31 and a 200 day moving average price of $53.40. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 3.35 and a beta of 0.82. Molson Coors Beverage has a 52 week low of $42.46 and a 52 week high of $60.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.57 and a current ratio of 0.82.
Molson Coors Beverage (NYSE:TAP - Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Molson Coors Beverage had a net margin of 5.73% and a return on equity of 6.46%. The business's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 EPS. Research analysts forecast that Molson Coors Beverage will post 3.98 EPS for the current year.
Molson Coors Beverage Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.68%. Molson Coors Beverage's payout ratio is 45.10%.