Molson Coors Beverage (NYSE:TAP) Announces Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Molson Coors Beverage (NYSE:TAP) announced its earnings results on Thursday. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.15, Briefing.com reports. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year.

Molson Coors Beverage Stock Performance

NYSE:TAP traded up $2.83 during midday trading on Friday, reaching $59.56. The stock had a trading volume of 3,630,043 shares, compared to its average volume of 1,910,370. The stock has a market capitalization of $12.34 billion, a P/E ratio of 13.41, a PEG ratio of 2.43 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The firm’s fifty day simple moving average is $55.46 and its 200-day simple moving average is $54.43.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler upped their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group dropped their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.15.

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.