Molson Coors Beverage (NYSE:TAP) Forecasted to Post Q3 2024 Earnings of $1.82 Per Share

Molson Coors Beverage (NYSE:TAP) – Equities research analysts at Roth Capital cut their Q3 2024 EPS estimates for shares of Molson Coors Beverage in a research report issued to clients and investors on Tuesday, August 6th. Roth Capital analyst W. Kirk now forecasts that the company will post earnings per share of $1.82 for the quarter, down from their prior estimate of $1.92. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $5.56 per share. Roth Capital also issued estimates for Molson Coors Beverage’s FY2024 earnings at $5.83 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $1.90 EPS, Q3 2025 earnings at $1.86 EPS and FY2025 earnings at $5.84 EPS.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share.

A number of other research analysts also recently issued reports on TAP. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. TD Cowen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and decreased their target price for the company from $68.00 to $58.00 in a research note on Wednesday. Citigroup dropped their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group lowered their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $52.98 on Thursday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The stock has a market cap of $11.22 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. The business has a 50-day simple moving average of $51.76 and a 200-day simple moving average of $58.56.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.32%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $127,337,000. Capital International Investors grew its holdings in shares of Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at about $53,096,000. Dimensional Fund Advisors LP lifted its stake in shares of Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after buying an additional 434,685 shares in the last quarter. Finally, River Road Asset Management LLC boosted its position in Molson Coors Beverage by 94.8% during the fourth quarter. River Road Asset Management LLC now owns 843,373 shares of the company’s stock worth $51,623,000 after acquiring an additional 410,467 shares during the last quarter. Institutional investors and hedge funds 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.