Molson Coors Beverage (NYSE:TAP) Given Consensus Rating of “Hold” by Analysts

Molson Coors Beverage (NYSE:TAP) has earned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $62.00.

TAP has been the topic of several research reports. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Barclays upped their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Monday.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $53.82 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market cap of $11.09 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.38 and a beta of 0.86. The business’s 50 day moving average price is $59.33 and its 200-day moving average price is $55.82.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share 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 business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is presently 39.64%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage in the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage in the third quarter worth $35,000. Gladius Capital Management LP purchased a new stake in Molson Coors Beverage during the third quarter valued at $42,000. Quarry LP bought a new position in Molson Coors Beverage in the second quarter valued at about $54,000. Finally, True Wealth Design LLC purchased a new position in Molson Coors Beverage in the third quarter worth about $59,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.