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.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on TAP shares. TheStreet cut shares of Molson Coors Beverage from a "b" rating to a "c+" rating in a research note on Thursday, August 4th. Sanford C. Bernstein cut their target price on Molson Coors Beverage to $57.00 in a research note on Tuesday. The Goldman Sachs Group upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price target for the stock from $46.00 to $54.00 in a report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft cut their price objective on Molson Coors Beverage from $54.00 to $52.00 in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group dropped their price target on shares of Molson Coors Beverage from $50.00 to $49.00 and set an "underperform" rating for the company in a research report on Wednesday, August 3rd. 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $53.44.
Molson Coors Beverage Stock Up 1.8 %
NYSE:TAP traded up $0.98 during trading hours on Thursday, hitting $56.70. 1,274,044 shares of the company were exchanged, compared to its average volume of 1,635,811. The company has a 50 day moving average of $55.19 and a two-hundred day moving average of $53.24. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.48. Molson Coors Beverage has a 52-week low of $42.46 and a 52-week high of $60.12. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.26 and a beta of 0.82.
Molson Coors Beverage (NYSE:TAP - Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. Molson Coors Beverage had a net margin of 5.73% and a return on equity of 6.46%. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The firm's revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Molson Coors Beverage will post 3.98 earnings per share for the current year.
Molson Coors Beverage Announces Dividend
The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.68%. Molson Coors Beverage's dividend payout ratio is currently 45.10%.