Molson Coors Beverage (NYSE:TAP) Expected to Announce Earnings of $1.16 Per Share

Brokerages expect that Molson Coors Beverage (NYSE:TAPGet Rating) will report earnings per share of $1.16 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Molson Coors Beverage’s earnings, with the highest EPS estimate coming in at $1.21 and the lowest estimate coming in at $1.10. Molson Coors Beverage reported earnings per share of $1.58 during the same quarter last year, which suggests a negative year-over-year growth rate of 26.6%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Molson Coors Beverage will report full-year earnings of $4.01 per share for the current fiscal year, with EPS estimates ranging from $3.89 to $4.40. For the next fiscal year, analysts anticipate that the business will post earnings of $4.33 per share, with EPS estimates ranging from $4.11 to $4.73. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Molson Coors Beverage.

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

Several brokerages have commented on TAP. Citigroup raised their target price on shares of Molson Coors Beverage from $58.00 to $61.00 in a report on Friday. Zacks Investment Research raised shares of Molson Coors Beverage from a “sell” rating to a “hold” rating and set a $57.00 price objective for the company in a research note on Thursday, April 28th. Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, February 24th. StockNews.com initiated coverage on Molson Coors Beverage in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $49.00 to $51.00 in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $56.00.

Shares of TAP opened at $53.14 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.54 and a debt-to-equity ratio of 0.48. Molson Coors Beverage has a 1-year low of $42.46 and a 1-year high of $61.48. The stock has a market capitalization of $11.53 billion, a P/E ratio of 10.76, a P/E/G ratio of 2.76 and a beta of 0.85. The business’s 50-day moving average price is $52.99 and its 200 day moving average price is $49.31.

The business also recently declared a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Monday, March 7th were paid a $0.38 dividend. The ex-dividend date was Friday, March 4th. This is an increase 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 2.86%. Molson Coors Beverage’s dividend payout ratio is 30.77%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TAP. CWM LLC bought a new position in Molson Coors Beverage during the fourth quarter valued at approximately $50,000. Thrivent Financial for Lutherans increased its stake in shares of Molson Coors Beverage by 819.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 74,414 shares of the company’s stock worth $3,451,000 after purchasing an additional 66,324 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Molson Coors Beverage by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 177,646 shares of the company’s stock valued at $9,709,000 after purchasing an additional 4,221 shares in the last quarter. Wilsey Asset Management Inc. raised its holdings in shares of Molson Coors Beverage by 2.9% during the 4th quarter. Wilsey Asset Management Inc. now owns 459,223 shares of the company’s stock valued at $21,285,000 after purchasing an additional 12,966 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Molson Coors Beverage by 5.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 103,250 shares of the company’s stock valued at $4,785,000 after purchasing an additional 5,577 shares during the last quarter. 79.62% 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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