Jefferies Financial Group Comments on Molson Coors Beverage’s Q3 2022 Earnings (NYSE:TAP)

Molson Coors Beverage (NYSE:TAPGet Rating) – Equities research analysts at Jefferies Financial Group boosted their Q3 2022 EPS estimates for shares of Molson Coors Beverage in a research note issued to investors on Tuesday, May 3rd. Jefferies Financial Group analyst K. Grundy now forecasts that the company will earn $1.48 per share for the quarter, up from their prior estimate of $1.42. Jefferies Financial Group also issued estimates for Molson Coors Beverage’s Q4 2022 earnings at $0.98 EPS, FY2022 earnings at $3.92 EPS, FY2023 earnings at $4.73 EPS and FY2024 earnings at $5.38 EPS.

Molson Coors Beverage (NYSE:TAPGet Rating) last released its earnings results on Tuesday, May 3rd. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Molson Coors Beverage had a net margin of 8.08% and a return on equity of 6.78%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year.

Several other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $49.00 to $51.00 in a research report on Wednesday, April 27th. Citigroup raised 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. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Wednesday, February 23rd. StockNews.com started coverage on shares of Molson Coors Beverage in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Morgan Stanley boosted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, February 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.67.

NYSE TAP opened at $53.24 on Thursday. The firm’s 50 day moving average price is $52.98 and its two-hundred day moving average price is $49.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.54 and a current ratio of 0.77. Molson Coors Beverage has a twelve month low of $42.46 and a twelve month high of $61.48. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.83 and a beta of 0.85.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 18th. Shareholders of record on Monday, March 7th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.85%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, March 4th. Molson Coors Beverage’s payout ratio is currently 32.83%.

A number of large investors have recently modified their holdings of TAP. Quent Capital LLC bought a new position in shares of Molson Coors Beverage in the 4th quarter valued at approximately $27,000. Retirement Planning Co of New England Inc. acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth $28,000. Dark Forest Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the third quarter worth $30,000. Whittier Trust Co. boosted its holdings in shares of Molson Coors Beverage by 162.6% during the 4th quarter. Whittier Trust Co. now owns 646 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the period. Finally, Carroll Financial Associates Inc. grew its stake in Molson Coors Beverage by 80.5% in the 4th quarter. Carroll Financial Associates Inc. now owns 731 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 79.62% of the company’s stock.

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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Earnings History and Estimates for Molson Coors Beverage (NYSE:TAP)

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