Barclays Issues Pessimistic Forecast for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its price objective reduced by stock analysts at Barclays from $62.00 to $61.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.79% from the company’s current price.

TAP has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. JPMorgan Chase & Co. decreased their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Stock Down 0.7 %

Shares of NYSE TAP opened at $60.52 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $58.11 and a 200 day moving average of $57.67. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The stock has a market cap of $12.26 billion, a PE ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of hedge funds have recently added to or reduced their stakes in the business. DoubleLine ETF Adviser LP increased its holdings in shares of Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after acquiring an additional 170 shares during the period. Pallas Capital Advisors LLC grew its position in Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the last quarter. Venturi Wealth Management LLC grew its position in Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares during the last quarter. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.