Molson Coors Beverage (TAP) To Go Ex-Dividend on February 27th

Molson Coors Beverage (NYSE:TAP) declared a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Investors of record on Thursday, February 27th will be paid a dividend of 0.47 per share on Friday, March 14th. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44.

Molson Coors Beverage has increased its dividend payment by an average of 37.3% annually over the last three years. Molson Coors Beverage has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Molson Coors Beverage to earn $6.77 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 27.8%.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $61.17 on Tuesday. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The firm has a 50-day simple moving average of $56.44 and a 200-day simple moving average of $56.69. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TAP has been the topic of several recent research reports. Barclays upped their price target on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. UBS Group boosted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. BNP Paribas started coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.27.

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.