Molson Coors Beverage (NYSE:TAP) Receives $62.00 Average PT from Analysts

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

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. BNP Paribas initiated coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research note on Friday, December 6th. They set a “buy” rating and a $72.00 price target on the stock. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, TD Cowen decreased their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the third quarter valued at $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage during the third quarter valued at $42,000. True Wealth Design LLC purchased a new stake in Molson Coors Beverage in the third quarter worth $59,000. Finally, Quarry LP bought a new stake in shares of Molson Coors Beverage in the second quarter valued at $54,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 5.7 %

Shares of NYSE:TAP opened at $52.42 on Thursday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The business’s 50-day moving average is $59.33 and its 200-day moving average is $55.79. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.38 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 earnings per share. Equities research analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

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.