Molson Coors Beverage Company (NYSE:TAP) Stock Has Average Target Price of $42.41 According to Brokerages

Shares of Molson Coors Beverage Company (NYSE:TAP) have earned an average recommendation of “Reduce” from the eighteen ratings firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $42.41.

A number of research firms have weighed in on TAP. Weiss Ratings upgraded shares of Molson Coors Beverage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, November 9th. Barclays increased their target price on shares of Molson Coors Beverage from $36.00 to $40.00 and gave the company an “underweight” rating in a research note on Monday, November 9th. TD Cowen lowered their target price on shares of Molson Coors Beverage from $43.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, October 13th. BNP Paribas Exane lowered their target price on shares of Molson Coors Beverage from $34.00 to $33.00 and set an “underperform” rating for the company in a report on Friday, September 18th. Finally, Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $46.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, November 9th.

Institutional Trading of Molson Coors Beverage

Institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC bought a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. raised its holdings in shares of Molson Coors Beverage by 84.7% in the third quarter. SBI Securities Co. Ltd. now owns 992 shares of the company’s stock worth $36,000 after buying an additional 455 shares during the period. CX Institutional raised its holdings in shares of Molson Coors Beverage by 496.8% in the second quarter. CX Institutional now owns 1,325 shares of the company’s stock worth $52,000 after buying an additional 1,103 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Molson Coors Beverage by 39.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,540 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $86,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 3.0%

Shares of NYSE TAP traded up $1.19 during trading hours on Friday, hitting $40.75. 2,479,096 shares of the company traded hands, compared to its average volume of 3,493,549. The company’s 50 day moving average price is $38.90 and its 200 day moving average price is $42.07. Molson Coors Beverage has a 12 month low of $35.52 and a 12 month high of $54.82. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 8.67 and a beta of 0.45. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.54.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 5th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.94 billion. Molson Coors Beverage had a return on equity of 8.92% and a net margin of 6.95%. Molson Coors Beverage’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. On average, equities research analysts anticipate that Molson Coors Beverage will post 4.46 earnings per share for the current fiscal year.

About Molson Coors Beverage

Molson Coors Beverage Company is a global brewer and beverage company with roots in the 18th-century Molson brewery in Canada and the 19th-century Coors brewery in Colorado. The businesses combined in 2005, and the company is headquartered in Chicago and Montreal. Its portfolio includes beer brands such as Coors Light, Miller Lite, Molson Canadian, Coors Banquet and Blue Moon, as well as other alcoholic and nonalcoholic beverages. The company brews, markets and distributes its products through its own operations and partner arrangements.