Equities analysts forecast that Molson Coors Beverage (NYSE:TAP) will post earnings of $1.39 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Molson Coors Beverage’s earnings. The highest EPS estimate is $1.54 and the lowest is $1.23. Molson Coors Beverage posted earnings of $1.55 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.3%. The company is scheduled to report its next earnings report on Thursday, July 29th.
On average, analysts expect that Molson Coors Beverage will report full year earnings of $3.87 per share for the current year, with EPS estimates ranging from $3.65 to $4.03. For the next fiscal year, analysts forecast that the business will post earnings of $4.11 per share, with EPS estimates ranging from $3.92 to $4.50. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Molson Coors Beverage.
Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, April 29th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.13. Molson Coors Beverage had a positive return on equity of 5.91% and a negative net margin of 6.54%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.86 billion.
TAP has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on Molson Coors Beverage from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, February 4th. Zacks Investment Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating and set a $53.00 price objective on the stock in a research note on Tuesday, April 13th. Wolfe Research initiated coverage on Molson Coors Beverage in a research note on Monday, April 19th. They issued a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $43.00 price objective (down from $45.00) on shares of Molson Coors Beverage in a research note on Thursday, March 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.33.
In other news, CEO Simon Cox sold 10,653 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $46.62, for a total transaction of $496,642.86. Following the completion of the sale, the chief executive officer now owns 52,091 shares in the company, valued at $2,428,482.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.43% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Molson Coors Beverage by 24.2% during the first quarter. BlackRock Inc. now owns 18,249,661 shares of the company’s stock valued at $933,467,000 after acquiring an additional 3,550,843 shares in the last quarter. Capital International Investors grew its holdings in Molson Coors Beverage by 7.3% during the first quarter. Capital International Investors now owns 4,577,037 shares of the company’s stock worth $234,115,000 after buying an additional 310,915 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Molson Coors Beverage by 978.4% during the fourth quarter. Principal Financial Group Inc. now owns 3,793,058 shares of the company’s stock worth $171,408,000 after buying an additional 3,441,313 shares in the last quarter. Geode Capital Management LLC grew its holdings in Molson Coors Beverage by 2.6% during the first quarter. Geode Capital Management LLC now owns 3,459,935 shares of the company’s stock worth $176,541,000 after buying an additional 87,918 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in Molson Coors Beverage by 23.2% during the first quarter. Champlain Investment Partners LLC now owns 3,301,420 shares of the company’s stock worth $168,868,000 after buying an additional 622,530 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Shares of TAP stock traded up $0.66 during mid-day trading on Friday, reaching $57.15. 2,008,349 shares of the stock traded hands, compared to its average volume of 2,149,256. The stock’s fifty day simple moving average is $54.41 and its two-hundred day simple moving average is $48.78. The company has a quick ratio of 0.45, a current ratio of 0.66 and a debt-to-equity ratio of 0.56. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Molson Coors Beverage has a 1-year low of $32.11 and a 1-year high of $61.11.
Molson Coors Beverage Company Profile
Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is headquartered in Chicago, Illinois.
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