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

Molson Coors Beverage (NYSE:TAP) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, December 6th.

Molson Coors Beverage has raised its dividend by an average of 42.2% annually over the last three years. Molson Coors Beverage has a payout ratio of 29.6% indicating that its dividend is sufficiently covered by earnings. 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 Down 0.2 %

Shares of Molson Coors Beverage stock traded down $0.11 during trading on Friday, hitting $60.36. The company’s stock had a trading volume of 1,488,333 shares, compared to its average volume of 1,911,936. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market capitalization of $12.43 billion, a PE ratio of 13.59, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a fifty day simple moving average of $56.73 and a two-hundred day simple moving average of $54.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 earnings per share. Equities research analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target 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. UBS Group lifted their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Barclays boosted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. TD Cowen dropped their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.31.

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.