Molson Coors Beverage (NYSE:TAP – Get Free Report) has received an average recommendation of “Reduce” from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $59.36.
Several brokerages have recently issued reports on TAP. Bank of America lowered their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. TD Cowen cut Molson Coors Beverage from a “buy” rating to a “hold” rating and lowered their target price for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Jefferies Financial Group dropped their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price target on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, UBS Group raised their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th.
Read Our Latest Stock Report on Molson Coors Beverage
Hedge Funds Weigh In On Molson Coors Beverage
Molson Coors Beverage Price Performance
Shares of TAP stock opened at $55.53 on Tuesday. The business has a fifty day simple moving average of $54.28 and a 200 day simple moving average of $56.38. The company has a market cap of $11.77 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.38 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.95 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.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $1.78 EPS. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.
Molson Coors Beverage Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.
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.
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