Molson Coors Beverage (NYSE:TAP) Receives $59.43 Average PT from Brokerages

Molson Coors Beverage (NYSE:TAP - Get Free Report) has been assigned an average rating of "Reduce" from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.43.

A number of research firms have issued reports on TAP. Jefferies Financial Group reduced their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating for the company in a research note on Thursday, July 18th. Barclays raised their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an "underweight" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. UBS Group lifted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Finally, Citigroup lowered their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a "sell" rating on the stock in a research note on Wednesday, July 10th.

Institutional Investors Weigh In On Molson Coors Beverage

A number of large investors have recently made changes to their positions in the company. Family Firm Inc. acquired a new position in Molson Coors Beverage in the 2nd quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Molson Coors Beverage during the second quarter worth $27,000. Crewe Advisors LLC acquired a new stake in Molson Coors Beverage during the first quarter valued at $43,000. GPS Wealth Strategies Group LLC increased its position in Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock worth $33,000 after purchasing an additional 294 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Molson Coors Beverage by 153.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 982 shares of the company's stock worth $66,000 after purchasing an additional 595 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.6 %

NYSE:TAP traded down $0.33 during mid-day trading on Friday, reaching $55.77. The stock had a trading volume of 1,277,781 shares, compared to its average volume of 1,908,444. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock's 50 day simple moving average is $55.08 and its two-hundred day simple moving average is $54.95.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. Equities analysts anticipate that Molson Coors Beverage will post 5.74 EPS 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.