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

Molson Coors Beverage (NYSE:TAP) has earned an average rating of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $62.00.

Several research analysts recently commented on TAP shares. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, Barclays raised their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $54.52 on Thursday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company’s 50-day moving average is $59.22 and its 200 day moving average is $55.86. The firm has a market capitalization of $11.23 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.36 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

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

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.23%. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Institutional Investors Weigh In On Molson Coors Beverage

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

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.