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

Molson Coors Beverage (NYSE:TAP) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.44 per share on Friday, September 20th. This represents a $1.76 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, August 30th.

Molson Coors Beverage has increased its dividend by an average of 42.2% per year over the last three years. Molson Coors Beverage has a dividend payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Molson Coors Beverage to earn $5.79 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 30.4%.

Molson Coors Beverage Stock Down 0.2 %

Shares of TAP stock opened at $53.46 on Thursday. The firm has a fifty day moving average of $52.28 and a 200-day moving average of $57.77. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 2.26 and a beta of 0.81. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts predict that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reduced their price target on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. StockNews.com downgraded shares of 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 cut their price target for the company from $68.00 to $58.00 in a research note on Wednesday, August 7th. Piper Sandler raised their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Bank of America dropped their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.53.

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.