Molson Coors Beverage (NYSE:TAP) to Post Q4 2022 Earnings of $1.12 Per Share, Wedbush Forecasts

Molson Coors Beverage (NYSE:TAPGet Rating) – Equities research analysts at Wedbush upped their Q4 2022 earnings estimates for shares of Molson Coors Beverage in a note issued to investors on Tuesday, January 24th. Wedbush analyst G. Pascarelli now expects that the company will earn $1.12 per share for the quarter, up from their previous forecast of $1.05. Wedbush currently has a “Neutral” rating and a $50.00 target price on the stock. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $3.86 per share. Wedbush also issued estimates for Molson Coors Beverage’s Q1 2023 earnings at $0.35 EPS, Q2 2023 earnings at $1.32 EPS and Q4 2023 earnings at $1.15 EPS.

A number of other equities research analysts also recently issued reports on TAP. Cowen raised shares of Molson Coors Beverage from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $60.00 in a report on Friday, January 6th. Credit Suisse Group lowered their price target on shares of Molson Coors Beverage from $49.00 to $48.00 and set an “underperform” rating on the stock in a report on Thursday, October 27th. Wells Fargo & Company downgraded shares of Molson Coors Beverage from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $52.00 to $45.00 in a report on Tuesday, January 3rd. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday, November 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a report on Tuesday, December 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $54.00.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $51.47 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 0.77 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $11.14 billion, a PE ratio of 22.57, a P/E/G ratio of 3.12 and a beta of 0.86. Molson Coors Beverage has a twelve month low of $46.69 and a twelve month high of $60.12. The company has a 50-day moving average price of $52.20 and a two-hundred day moving average price of $52.42.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.04). The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.86 billion. Molson Coors Beverage had a net margin of 3.85% and a return on equity of 5.78%.

Institutional Investors Weigh In On Molson Coors Beverage

A number of large investors have recently made changes to their positions in TAP. Trustcore Financial Services LLC bought a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at about $29,000. Dark Forest Capital Management LP bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $31,000. CX Institutional bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $33,000. Global Retirement Partners LLC grew its stake in shares of Molson Coors Beverage by 304.9% during the 2nd quarter. Global Retirement Partners LLC now owns 664 shares of the company’s stock valued at $36,000 after acquiring an additional 500 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Molson Coors Beverage by 529.5% during the 2nd quarter. Jones Financial Companies Lllp now owns 661 shares of the company’s stock valued at $36,000 after acquiring an additional 556 shares during the period. 76.24% of the stock is currently owned by institutional investors.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 2nd were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Thursday, December 1st. Molson Coors Beverage’s dividend payout ratio (DPR) is 66.67%.

Molson Coors Beverage Company Profile

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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. 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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