Molson Coors Beverage (NYSE:TAP) Receives Consensus Recommendation of “Hold” from Analysts

Molson Coors Beverage (NYSE:TAP) has been given an average rating of “Hold” by the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $60.31.

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen reduced their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Piper Sandler lifted their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $74.00 in a research note on Friday, November 8th.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds have recently bought and sold shares of TAP. Pacer Advisors Inc. raised its stake in Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares in the last quarter. Capital International Investors grew its holdings in shares of Molson Coors Beverage by 10.7% during the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after purchasing an additional 939,142 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $48,202,000. Ilex Capital Partners UK LLP bought a new stake in shares of Molson Coors Beverage during the first quarter worth $53,096,000. Finally, State Street Corp increased its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 1.7 %

TAP stock opened at $60.80 on Wednesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. 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 company has a market cap of $12.53 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. The business’s 50-day simple moving average is $56.47 and its 200 day simple moving average is $54.37.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 earnings per share. On average, research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

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.