Jefferies Financial Group Research Analysts Cut Earnings Estimates for Molson Coors Beverage (NYSE:TAP)

Molson Coors Beverage (NYSE:TAPGet Rating) – Stock analysts at Jefferies Financial Group lowered their Q2 2022 earnings per share (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 post earnings per share of $1.18 for the quarter, down from their previous estimate of $1.50.

A number of other equities research analysts have also recently issued reports on TAP. StockNews.com began coverage on shares of Molson Coors Beverage in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Wednesday, February 23rd. Zacks Investment Research raised shares of Molson Coors Beverage from a “sell” rating to a “hold” rating and set a $57.00 price target for the company in a research report on Thursday, April 28th. Citigroup increased their price target on shares of Molson Coors Beverage from $58.00 to $61.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Molson Coors Beverage from $49.00 to $51.00 in a research report on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.00.

Shares of Molson Coors Beverage stock opened at $52.64 on Friday. Molson Coors Beverage has a 52-week low of $42.46 and a 52-week high of $61.48. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 2.76 and a beta of 0.85. The company has a fifty day moving average of $52.97 and a 200-day moving average of $49.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.54 and a current ratio of 0.81.

Molson Coors Beverage (NYSE:TAPGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Molson Coors Beverage had a net margin of 8.36% and a return on equity of 7.12%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 16.7% on a year-over-year basis.

Several institutional investors and hedge funds have recently modified their holdings of TAP. Norges Bank bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $86,298,000. BlackRock Inc. lifted its position in Molson Coors Beverage by 10.7% in the 3rd quarter. BlackRock Inc. now owns 17,283,383 shares of the company’s stock valued at $801,603,000 after acquiring an additional 1,670,541 shares in the last quarter. Private Management Group Inc. bought a new position in Molson Coors Beverage in the 3rd quarter valued at approximately $33,959,000. LSV Asset Management lifted its position in Molson Coors Beverage by 9.4% in the 4th quarter. LSV Asset Management now owns 7,587,441 shares of the company’s stock valued at $351,678,000 after acquiring an additional 652,709 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in Molson Coors Beverage by 155.4% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 939,867 shares of the company’s stock valued at $43,582,000 after acquiring an additional 571,867 shares in the last quarter. 79.62% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently declared a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Monday, March 7th were given a $0.38 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.34. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, March 4th. Molson Coors Beverage’s payout ratio is currently 30.77%.

About Molson Coors Beverage (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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