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

Molson Coors Beverage (NYSE:TAP) is scheduled to be announcing its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $1.67 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The business’s revenue was down .4% on a year-over-year basis. 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 Price Performance

Shares of Molson Coors Beverage stock opened at $55.71 on Tuesday. The stock’s 50-day simple moving average is $55.25 and its 200-day simple moving average is $54.52. 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 $11.54 billion, a price-to-earnings 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.

Analysts Set New Price Targets

TAP has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company boosted their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Jefferies Financial Group decreased their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. UBS Group boosted their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $59.43.

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.