Molson Coors Beverage (NYSE:TAP) Plans Quarterly Dividend of $0.44

Molson Coors Beverage (NYSE:TAP) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Friday, December 6th will be given a dividend of 0.44 per share on Friday, December 20th. This represents a $1.76 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, December 6th.

Molson Coors Beverage has increased its dividend payment by an average of 42.2% per year over the last three years. Molson Coors Beverage has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Molson Coors Beverage to earn $5.98 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 29.4%.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded down $0.11 during midday trading on Friday, reaching $60.36. 1,488,333 shares of the company were exchanged, compared to its average volume of 1,911,936. The stock has a market cap of $12.43 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. The business’s fifty day moving average is $56.73 and its two-hundred day moving average is $54.46. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $1.92 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. As a group, analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on TAP. Barclays lifted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, TD Cowen lowered their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.31.

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.