Molson Coors Beverage (NYSE:TAP) Receives $62.00 Consensus Target Price from Analysts

Molson Coors Beverage (NYSE:TAP) has received an average rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $62.00.

A number of equities research analysts recently issued reports on the company. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, December 13th.

Molson Coors Beverage Stock Performance

TAP stock opened at $58.65 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business’s fifty day moving average is $58.81 and its 200-day moving average is $55.11. The company has a market cap of $12.08 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85.

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

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is 39.64%.

Institutional Trading of Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC grew its holdings in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares in the last quarter. Perpetual Ltd increased its position in shares of Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after purchasing an additional 197 shares during the period. SkyView Investment Advisors LLC raised its stake in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after purchasing an additional 274 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in Molson Coors Beverage by 0.9% during the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after purchasing an additional 277 shares during the period. Institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

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.