Wedbush Comments on Molson Coors Beverage’s FY2024 Earnings (NYSE:TAP)

Molson Coors Beverage (NYSE:TAP) – Stock analysts at Wedbush raised their FY2024 earnings estimates for Molson Coors Beverage in a report released on Wednesday, May 1st. Wedbush analyst G. Pascarelli now forecasts that the company will earn $5.67 per share for the year, up from their prior estimate of $5.66. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $5.68 per share. Wedbush also issued estimates for Molson Coors Beverage’s Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $1.94 EPS and Q4 2025 earnings at $1.26 EPS.

Other research analysts have also issued research reports about the company. Bank of America decreased their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup dropped their price objective on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday. Piper Sandler started coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. UBS Group dropped their price target on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $65.53.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $57.85 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.50. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90. The firm has a market capitalization of $12.30 billion, a PE ratio of 11.57, a P/E/G ratio of 1.97 and a beta of 0.86. The business’s 50 day moving average price is $64.86 and its 200-day moving average price is $62.33.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $0.54 EPS. Molson Coors Beverage’s quarterly revenue was up 10.7% on a year-over-year basis.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its stake in shares of Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after acquiring an additional 1,500,269 shares in the last quarter. Morgan Stanley grew its stake in Molson Coors Beverage by 40.2% during the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after purchasing an additional 988,864 shares in the last quarter. Invesco Ltd. increased its holdings in Molson Coors Beverage by 13.0% during the 3rd quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock worth $196,332,000 after purchasing an additional 355,694 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Molson Coors Beverage by 9,466.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after buying an additional 2,121,211 shares during the period. Finally, Norges Bank acquired a new position in shares of Molson Coors Beverage during the fourth quarter worth about $127,337,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

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.