Shares of Molson Coors Beverage (NYSE:TAP – Get Free Report) have earned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $61.07.
Several research firms recently weighed in on TAP. Jefferies Financial Group reduced their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Bank of America reduced their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Evercore ISI reduced their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Piper Sandler reduced their target price on shares of Molson Coors Beverage from $69.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th.
Check Out Our Latest Stock Report on Molson Coors Beverage
Institutional Investors Weigh In On Molson Coors Beverage
Molson Coors Beverage Stock Up 0.2 %
Shares of TAP opened at $52.51 on Thursday. The firm has a market cap of $11.13 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.98 and a beta of 0.81. The company’s fifty day moving average is $52.28 and its two-hundred day moving average is $59.47. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $70.90. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS. Analysts forecast that Molson Coors Beverage will post 5.6 earnings per share for the current year.
Molson Coors Beverage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.35%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.
About Molson Coors Beverage
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.
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