Molson Coors Beverage (NYSE:TAP) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Molson Coors Beverage (NYSE:TAP) announced its earnings results on Thursday. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15, Briefing.com reports. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded up $2.83 during trading on Friday, reaching $59.56. The stock had a trading volume of 3,630,043 shares, compared to its average volume of 1,910,370. The stock has a market capitalization of $12.34 billion, a PE ratio of 13.41, a P/E/G ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The business’s 50-day moving average price is $55.46 and its 200 day moving average price is $54.43.

Wall Street Analyst Weigh In

Several analysts have issued reports on TAP shares. Barclays raised their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. TD Cowen cut their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.15.

About Molson Coors Beverage

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.