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

Molson Coors Beverage (NYSE:TAP) has received a consensus rating of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.00.

A number of equities research analysts have commented on TAP shares. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Barclays upped their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th.

Molson Coors Beverage Trading Up 2.6 %

NYSE:TAP opened at $53.82 on Thursday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The business has a fifty day moving average price of $59.33 and a 200-day moving average price of $55.82. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. 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 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. Sell-side 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. Stockholders of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.27%. Molson Coors Beverage’s dividend payout ratio is 39.64%.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently modified their holdings of TAP. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage in the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage in the third quarter worth about $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter worth about $42,000. Quarry LP bought a new stake in Molson Coors Beverage during the 2nd quarter valued at about $54,000. Finally, True Wealth Design LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter valued at about $59,000. 78.46% of the stock is owned by institutional investors.

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.