Molson Coors Beverage (TAP) Set to Announce Earnings on Thursday

Molson Coors Beverage (NYSE:TAP) is set to release its earnings data before the market opens on Thursday, November 7th. Analysts expect Molson Coors Beverage to post earnings of $1.67 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. On average, analysts expect Molson Coors Beverage to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Molson Coors Beverage Trading Up 1.3 %

TAP opened at $55.71 on Tuesday. The stock has a market cap of $11.54 billion, a PE ratio of 10.20, a PEG ratio of 2.37 and a beta of 0.82. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $55.25 and a 200-day moving average of $54.52. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Analyst Ratings Changes

A number of brokerages have issued reports on TAP. Citigroup lowered their price objective on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. UBS Group lifted their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. TD Cowen reduced their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.43.

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.