Molson Coors Beverage (NYSE:TAP) Given Average Rating of “Hold” by Analysts

Molson Coors Beverage (NYSE:TAP) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $62.00.

A number of equities analysts have weighed in on TAP shares. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th.

Molson Coors Beverage Trading Up 0.8 %

Shares of TAP opened at $55.62 on Thursday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market cap of $11.46 billion, a PE ratio of 12.53, a P/E/G ratio of 2.38 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $59.36 and its 200-day moving average price is $55.75.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. On average, equities analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is presently 39.64%.

Institutional Trading of Molson Coors Beverage

Hedge funds have recently modified their holdings of the business. TD Asset Management Inc boosted its position in shares of Molson Coors Beverage by 8.0% in the 2nd quarter. TD Asset Management Inc now owns 53,346 shares of the company’s stock worth $2,712,000 after purchasing an additional 3,936 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Molson Coors Beverage by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 31,803 shares of the company’s stock worth $1,617,000 after purchasing an additional 295 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Molson Coors Beverage in the 2nd quarter worth about $163,000. Caprock Group LLC boosted its stake in Molson Coors Beverage by 12.4% in the 2nd quarter. Caprock Group LLC now owns 8,036 shares of the company’s stock worth $408,000 after purchasing an additional 885 shares in the last quarter. Finally, Quest Partners LLC increased its stake in Molson Coors Beverage by 252,400.0% during the 2nd quarter. Quest Partners LLC now owns 17,675 shares of the company’s stock valued at $898,000 after purchasing an additional 17,668 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

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.