Molson Coors Brewing Company Class B ($TAP) Stock Forecast: Up 8.0% Today

What is Molson Coors Brewing Company Class B?

Molson Coors (TAP) is a well-known beer company that operates globally, including in Canada. The company is a major player in the beverage industry, known for its popular beer brands.

Why is Molson Coors Brewing Company Class B going up?

TAP stock is up 8.0% on Aug 6, 2024 17:03

• Molson Coors (TAP) reported strong quarterly results, beating analyst expectations in both earnings per share ($1.92 vs. $1.70) and revenue ($3.25 billion vs. $3.22 billion).
• The positive earnings report likely contributed to the bullish movement in TAP stock as investors reacted favorably to the company's performance.
• The stable sales and improved profitability showcased in the quarterly results indicate that Molson Coors is effectively navigating market challenges and maintaining growth.
• Overall, the upbeat earnings report and the company's ability to deliver solid results in a competitive market environment likely fueled the bullish movement in TAP stock.

TAP Price Chart

TAP News

Molson Coors reports quarterly results

Chantalle Butler, president of Molson Coors Canada, joins BNN Bloomberg to discuss the company''s latest earnings as well as the beer and beverage business.

https://www.bnnbloomberg.ca/video/shows/the-open/2024/08/06/molson-coors-reports-quarterly-results/

TAP Stock Earnings: Molson Coors Beverage Beats EPS, Beats Revenue for Q2 2024

Molson Coors Beverage (NYSE: TAP ) just reported results for the second quarter of 2024. Molson Coors Beverage reported earnings per share of $1.92. This was above the analyst estimate for EPS of $1.70. The company reported revenue of $3.25 billion. This was 0.99% better than the analyst estimate for revenue of $3.22 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace Legendary Investor Predicts: “Forget AI… THIS Technology Is the Future” The post TAP Stock Earnings: Molson Coors Beverage Beats EPS, Beats Revenue for Q2 2024 appeared first on InvestorPlace .

https://investorplace.com/earning-results/2024/08/tap-stock-earnings-molson-coors-beverage-for-q2-of-2024/

Molson Coors''s (NYSE:TAP) Q2: Beats On Revenue

Beer company Molson Coors (NYSE:TAP) announced better-than-expected results in Q2 CY2024, with revenue flat year on year at $3.25 billion. It made a non-GAAP profit of $1.92 per share, improving from its profit of $1.78 per share in the same quarter last year.

https://stockstory.org/nyse/tap/earnings/molson-coorss-nysetap-q2-beats-on-revenue

Molson Coors Maintains Growth Amid Stable Sales

Molson Coors (TAP) has released an update. Molson Coors Beverage Company reported a steady second quarter in 2024 with nearly flat net sales but a …

https://www.tipranks.com/news/company-announcements/molson-coors-maintains-growth-amid-stable-sales

Molson Coors Announces Stable Q2 Results and Shareholder Returns

Molson Coors Canada (TSE:TPX.B) has released an update. Molson Coors Beverage Company reported a marginal decrease in net sales but a substantial i…

https://www.tipranks.com/news/company-announcements/molson-coors-announces-stable-q2-results-and-shareholder-returns

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Molson Coors Brewing Company Class B Price History

05.09.2023 - TAP Stock was down 5.0%

• The bearish movement in TAP could be attributed to the article mentioning that Gen Z consumers are not as interested in beer, which is a significant market segment for Molson Coors. This could indicate a potential decline in future beer sales.
• The news about Molson Coors venturing into non-alcoholic offerings, such as the launch of non-alcoholic Blue Moon, might have also contributed to the bearish movement. Investors may be uncertain about the success of these new products and their ability to offset any potential decline in beer sales.
• The article mentioning the CEO's interview with Jim Cramer could have also influenced the market movement, as investors may have gained insights into the company's future plans and potential challenges.
• Overall, the bearish movement in TAP today could be a result of concerns about the declining interest in beer among Gen Z consumers, uncertainty about the success of non-alcoholic offerings, and potential market reactions to the CEO's interview.

03.10.2023 - TAP Stock was up 5.7%

• The bullish movement in TAP stock today can be attributed to several factors:
• 1. Strong Q3 Earnings: TAP reported impressive sales growth, beating analyst estimates. This positive performance was driven by favorable pricing, sales mix, and higher financial volumes. The company's core brands and business units showcased strength, contributing to the overall success.
• 2. Favorable Market Conditions: The US beer category has been experiencing healthier growth, which has benefited Molson Coors Beverage. Additionally, the company's ability to win market share with brands like Miller Lite and Coors Light has further boosted investor confidence.
• 3. Global Strength: TAP's solid earnings and sustained growth have positioned the company as a strong player in the global beer market. This, coupled with favorable foreign currency exchange rates, has contributed to the bullish movement in the stock.
• 4. Consumer Staples Performance: Molson Coors Beverage has outpaced the S&P 500 and consumer staples indexes over the last year. This consistent outperformance has likely attracted investors and contributed to the bullish sentiment surrounding the stock.

06.07.2024 - TAP Stock was up 8.0%

• Molson Coors (TAP) reported strong quarterly results, beating analyst expectations in both earnings per share ($1.92 vs. $1.70) and revenue ($3.25 billion vs. $3.22 billion).
• The positive earnings report likely contributed to the bullish movement in TAP stock as investors reacted favorably to the company's performance.
• The stable sales and improved profitability showcased in the quarterly results indicate that Molson Coors is effectively navigating market challenges and maintaining growth.
• Overall, the upbeat earnings report and the company's ability to deliver solid results in a competitive market environment likely fueled the bullish movement in TAP stock.

06.07.2024 - TAP Stock was up 5.5%

• Molson Coors (TAP) outperformed revenue projections in Q2 CY2024, displaying strong financial resilience.
• Despite a slight dip in net sales, the company saw a substantial rise in income before income taxes, driving the positive market movement.
• Robust cash flow, strategic investments, and rewarding shareholder returns underscored the company's solid performance, boosting investor confidence.
• The company's reaffirmation of its full-year growth guidance further solidified investor trust, prompting a bullish trajectory in the stock price.