Brokerages Expect Molson Coors Beverage (NYSE:TAP) to Announce $0.18 Earnings Per Share

Analysts expect Molson Coors Beverage (NYSE:TAPGet Rating) to announce earnings of $0.18 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Molson Coors Beverage’s earnings, with estimates ranging from $0.11 to $0.23. Molson Coors Beverage reported earnings per share of $0.01 in the same quarter last year, which suggests a positive year-over-year growth rate of 1,700%. The firm is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Molson Coors Beverage will report full year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $3.86 to $4.40. For the next financial year, analysts expect that the firm will report earnings of $4.32 per share, with EPS estimates ranging from $4.07 to $4.79. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Molson Coors Beverage.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.09). Molson Coors Beverage had a return on equity of 6.78% and a net margin of 8.08%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The firm’s revenue was down 5.7% compared to the same quarter last year.

A number of analysts have weighed in on TAP shares. StockNews.com started coverage on Molson Coors Beverage in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Wednesday, February 23rd. Citigroup increased their price objective on Molson Coors Beverage from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, February 24th. Finally, Morgan Stanley increased their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $55.13.

Molson Coors Beverage stock traded up $1.32 during mid-day trading on Friday, reaching $55.61. 2,333,225 shares of the company were exchanged, compared to its average volume of 1,253,527. Molson Coors Beverage has a twelve month low of $42.46 and a twelve month high of $61.48. The firm’s 50-day simple moving average is $51.58 and its two-hundred day simple moving average is $48.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.54 and a current ratio of 0.77. The firm has a market cap of $12.07 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Monday, March 7th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, March 4th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.34. This represents a $1.52 annualized dividend and a yield of 2.73%. Molson Coors Beverage’s payout ratio is currently 32.83%.

A number of hedge funds have recently modified their holdings of the stock. Quent Capital LLC purchased a new position in Molson Coors Beverage during the fourth quarter worth $27,000. Retirement Planning Co of New England Inc. purchased a new position in Molson Coors Beverage during the fourth quarter worth $28,000. TCI Wealth Advisors Inc. increased its position in Molson Coors Beverage by 69.5% during the third quarter. TCI Wealth Advisors Inc. now owns 651 shares of the company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Molson Coors Beverage during the third quarter worth $30,000. Finally, Whittier Trust Co. increased its position in Molson Coors Beverage by 162.6% during the fourth quarter. Whittier Trust Co. now owns 646 shares of the company’s stock worth $30,000 after buying an additional 400 shares in the last quarter. 79.94% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile (Get Rating)

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.

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