Molson Coors Beverage (NYSE:TAP) Receives Average Rating of “Hold” from Brokerages

Shares of Molson Coors Beverage (NYSE:TAP) have received an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $62.00.

A number of brokerages have recently issued reports on TAP. Barclays boosted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock.

Institutional Trading of Molson Coors Beverage

Several hedge funds have recently bought and sold shares of TAP. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage in the second quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $35,000. Gladius Capital Management LP bought a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. Quarry LP purchased a new stake in shares of Molson Coors Beverage during the 2nd quarter worth approximately $54,000. Finally, True Wealth Design LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.8 %

Shares of Molson Coors Beverage stock opened at $55.62 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 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. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The company’s 50 day moving average is $59.36 and its 200 day moving average is $55.75.

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

Molson Coors Beverage Announces Dividend

The business 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 3.16%. Molson Coors Beverage’s payout ratio is 39.64%.

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.