With a market cap of $11.3 billion, Molson Coors Beverage Company (TAP) has a rich heritage of brewing excellence, offering a diverse portfolio of globally recognized beer and beverage brands. From classic lagers like Coors Light and Miller Lite to innovative craft beers and hard seltzers, it continues to provide exceptional products while maintaining a strong commitment to sustainability and corporate responsibility. The Golden, Colorado-based company is expected to announce its fiscal Q4 earnings results before the market opens on Thursday, Feb. 13.
Ahead of this event, analysts expect the beer maker to report a profit of $1.13 per share, down 5% from $1.19 per share in the year-ago quarter. However, the company has surpassed Wall Street's earnings estimates in the last four quarters. In Q3, TAP exceeded the consensus EPS estimate by 9.1%.
For fiscal 2024, analysts expect TAP to report an EPS of $5.79, up 6.6% from $5.43 in fiscal 2023.
Shares of TAP have dipped 13.2% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 26.4% surge and the Consumer Staples Select Sector SPDR Fund’s (XLP) 6.6% return over the same period.
Despite weaker-than-expected Q3 adjusted revenue of $3 billion, TAP shares rose marginally on Nov. 7, as adjusted earnings of $1.80 per share exceeded the consensus estimate. The company reaffirmed its 2024 underlying EBT outlook and projected mid-single-digit EPS growth, expecting EPS to reach the higher end of the target range, supported by improved cost forecasts for packaging materials, transportation, and administrative expenses. Additionally, strong cash flows, including $856 million in free cash flow and an accelerated share repurchase program, supported investor confidence.
Analysts' consensus view on Molson Coors Beverage’s stock is cautious, with a "Hold" rating overall. Among 20 analysts covering the stock, five recommend "Strong Buy," one suggests "Moderate Buy," 12 advise "Hold," and two indicate “Strong Sell.” As of writing, TAP is trading below the average analyst price target of $62.52.
