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

Molson Coors Beverage (NYSE:TAPGet Free Report) declared a quarterly dividend on Thursday, May 16th, NASDAQ reports. Stockholders of record on Friday, June 7th will be paid a dividend of 0.44 per share on Friday, June 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, June 7th.

Molson Coors Beverage has increased its dividend by an average of 42.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Molson Coors Beverage has a dividend payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Beverage to earn $5.91 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 29.8%.

Molson Coors Beverage Stock Performance

TAP stock opened at $52.49 on Thursday. The company has a 50-day simple moving average of $60.64 and a 200 day simple moving average of $61.93. The company has a market capitalization of $11.12 billion, a P/E ratio of 10.50, a PEG ratio of 1.91 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 has a fifty-two week low of $52.28 and a fifty-two week high of $70.90.

Molson Coors Beverage (NYSE:TAPGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Sell-side analysts predict that Molson Coors Beverage will post 5.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TAP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Bank of America dropped their price target on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Evercore ISI cut their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Citigroup decreased their price target on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.07.

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About Molson Coors Beverage

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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.

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Dividend History for Molson Coors Beverage (NYSE:TAP)

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