FY2024 EPS Estimates for Molson Coors Beverage Increased by Wedbush (NYSE:TAP)

Molson Coors Beverage (NYSE:TAP) – Research analysts at Wedbush raised their FY2024 EPS estimates for Molson Coors Beverage in a report issued on Wednesday, May 1st. Wedbush analyst G. Pascarelli now forecasts that the company will post earnings of $5.67 per share for the year, up from their previous estimate of $5.66. The consensus estimate for Molson Coors Beverage’s current full-year earnings is $5.68 per share. Wedbush also issued estimates for Molson Coors Beverage’s Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $1.94 EPS and Q4 2025 earnings at $1.26 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup cut their price objective on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday. UBS Group reduced their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays lowered their target price on Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Bank of America lowered their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $65.53.

Molson Coors Beverage Stock Up 0.1 %

Shares of NYSE TAP opened at $57.85 on Friday. The stock 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. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The firm’s 50 day simple moving average is $64.77 and its two-hundred day simple moving average is $62.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.50.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.74 by $0.21. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its stake in shares of Molson Coors Beverage by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock worth $4,760,000 after acquiring an additional 869 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Molson Coors Beverage by 7.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after buying an additional 2,279 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in Molson Coors Beverage during the third quarter valued at $271,000. Xponance Inc. raised its stake in Molson Coors Beverage by 1.6% during the third quarter. Xponance Inc. now owns 26,896 shares of the company’s stock valued at $1,710,000 after buying an additional 416 shares during the last quarter. Finally, Dakota Wealth Management boosted its holdings in Molson Coors Beverage by 9.3% in the third quarter. Dakota Wealth Management now owns 3,412 shares of the company’s stock worth $217,000 after acquiring an additional 290 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of 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 SEC, which is available through this link. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 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.