Molson Coors Beverage Company Announces Quarterly Dividend of $0.47 (NYSE:TAP)

Molson Coors Beverage Company (NYSE:TAP) announced a quarterly dividend on Thursday, November 20th. Shareholders of record on Friday, December 5th will be given a dividend of 0.47 per share on Friday, December 19th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, December 5th.

Molson Coors Beverage has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Molson Coors Beverage has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Beverage to earn $6.77 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 27.8%.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded up $0.59 during midday trading on Friday, hitting $46.06. The company’s stock had a trading volume of 653,369 shares, compared to its average volume of 2,506,947. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $45.83 and a 200 day moving average price of $49.36. Molson Coors Beverage has a one year low of $42.94 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TAP shares. Evercore ISI decreased their price target on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Roth Capital reissued a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price target (down from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday. UBS Group lowered their price objective on Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Citigroup reduced their target price on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $54.24.

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.