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

Molson Coors Beverage (NYSE:TAP) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Friday, December 6th will be paid a dividend of 0.44 per share on Friday, December 20th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, December 6th.

Molson Coors Beverage has raised its dividend payment by an average of 42.2% per year over the last three years. Molson Coors Beverage has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of TAP opened at $61.48 on Wednesday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a market capitalization of $12.67 billion, a PE ratio of 13.85, a P/E/G ratio of 2.39 and a beta of 0.85. The firm has a 50-day moving average price of $57.70 and a 200 day moving average price of $54.60. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.92 earnings per share. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TAP shares. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. UBS Group boosted their price target 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, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, TD Cowen reduced 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 analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

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.