Brokers Set Expectations for Molson Coors Beverage’s Q2 2024 Earnings (NYSE:TAP)

Molson Coors Beverage (NYSE:TAP) – Analysts at Wedbush decreased their Q2 2024 EPS estimates for Molson Coors Beverage in a research note issued on Wednesday, May 1st. Wedbush analyst G. Pascarelli now expects that the company will post earnings per share of $1.71 for the quarter, down from their prior estimate of $1.78. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $5.67 per share. Wedbush also issued estimates for Molson Coors Beverage’s Q3 2024 earnings at $1.79 EPS, Q4 2024 earnings at $1.22 EPS and Q1 2025 earnings at $0.92 EPS.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results 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 net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

A number of other research analysts also recently issued reports on TAP. UBS Group reduced their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Barclays lowered their price objective on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Evercore ISI dropped their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $65.53.

Molson Coors Beverage Trading Up 0.1 %

NYSE TAP opened at $57.85 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $64.77 and a 200 day simple moving average of $62.36. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The firm has a market capitalization of $12.30 billion, a P/E ratio of 11.57, a PEG ratio of 2.00 and a beta of 0.86.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TAP. Kestra Private Wealth Services LLC grew its holdings in Molson Coors Beverage by 19.5% in the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after purchasing an additional 1,859 shares during the period. International Assets Investment Management LLC raised its position in shares of Molson Coors Beverage by 6,418.1% in the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after purchasing an additional 149,093 shares during the last quarter. SkyView Investment Advisors LLC grew its position in Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after purchasing an additional 408 shares during the last quarter. Metis Global Partners LLC raised its holdings in Molson Coors Beverage by 24.2% in the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after buying an additional 2,183 shares during the last quarter. Finally, Beck Bode LLC purchased a new position in Molson Coors Beverage in the fourth quarter worth about $1,785,000. Institutional investors own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.04%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is 35.20%.

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.