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.
Molson Coors Beverage Stock Down 1.4 %
Shares of Molson Coors Beverage stock traded down $0.80 during trading on Wednesday, reaching $55.68. The company's stock had a trading volume of 1,355,727 shares, compared to its average volume of 1,623,519. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.48. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 3.33 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $42.46 and a 1-year high of $60.12. The company has a 50-day simple moving average of $55.43 and a two-hundred day simple moving average of $53.50.
Molson Coors Beverage (NYSE:TAP - Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.19 earnings per share for the quarter, meeting analysts' consensus estimates of $1.19. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.94 billion. Molson Coors Beverage had a return on equity of 6.46% and a net margin of 5.73%. The company's revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. As a group, equities analysts forecast that Molson Coors Beverage will post 3.98 earnings per share for the current year.
Molson Coors Beverage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. Molson Coors Beverage's payout ratio is currently 45.10%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft cut their target price on Molson Coors Beverage from $54.00 to $52.00 in a research note on Wednesday, August 3rd. Sanford C. Bernstein dropped their price target on Molson Coors Beverage to $57.00 in a research note on Tuesday, August 9th. Citigroup raised their price target on Molson Coors Beverage from $58.00 to $61.00 in a research note on Friday, May 6th. Finally, UBS Group raised their target price on Molson Coors Beverage from $54.00 to $58.00 and gave the stock a "neutral" rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $53.44.