Molson Coors Beverage (NYSE:TAP) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target on Molson Coors from $36 to $40 but maintained an “underweight” rating; the new target implies just 2.33% upside from the prior close.
• Analyst views are broadly cautious: MarketBeat’s consensus rating is “Reduce,” with an average price target of $42.65; three analysts rate the stock Buy, eight Hold, and seven Sell.
• Molson Coors narrowly beat quarterly earnings estimates, reporting $1.46 per share versus $1.44 expected, but revenue fell 1.6% year over year to $2.93 billion and came in slightly below estimates.

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price objective raised by Barclays from $36.00 to $40.00 in a research note issued on Monday, Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's price objective suggests a potential upside of 2.33% from the company's previous close.

A number of other brokerages also recently issued reports on TAP. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $50.00 to $46.00 and set a "buy" rating on the stock in a research note on Friday. Wells Fargo & Company lowered shares of Molson Coors Beverage from an "equal weight" rating to a "strong sell" rating and decreased their target price for the company from $38.00 to $36.00 in a report on Friday. UBS Group boosted their target price on shares of Molson Coors Beverage from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Piper Sandler cut their price target on shares of Molson Coors Beverage from $44.00 to $43.00 and set a "neutral" rating for the company in a report on Friday. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Molson Coors Beverage in a research report on Monday, September 21st. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $42.65.

Molson Coors Beverage Price Performance

NYSE TAP traded down $1.24 during midday trading on Monday, hitting $39.09. The company had a trading volume of 768,136 shares, compared to its average volume of 3,362,619. The company has a market capitalization of $8.19 billion, a PE ratio of 8.32 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. The firm has a 50-day moving average price of $38.95 and a 200-day moving average price of $42.31. Molson Coors Beverage has a twelve month low of $35.52 and a twelve month high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.02. Molson Coors Beverage had a return on equity of 8.92% and a net margin of 6.95%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the company posted $1.67 EPS. The company's revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that Molson Coors Beverage will post 4.48 earnings per share for the current fiscal year.

Institutional Trading of Molson Coors Beverage

Several large investors have recently bought and sold shares of TAP. Nykredit A S purchased a new stake in shares of Molson Coors Beverage during the second quarter worth $43,375,000. Squarepoint Ops LLC boosted its holdings in shares of Molson Coors Beverage by 8.1% in the second quarter. Squarepoint Ops LLC now owns 1,190,275 shares of the company's stock worth $46,373,000 after acquiring an additional 89,398 shares during the period. Core Capital Management & Research inc. purchased a new position in shares of Molson Coors Beverage in the second quarter valued at $7,905,000. Foster & Motley Inc. purchased a new position in shares of Molson Coors Beverage in the second quarter valued at $3,080,000. Finally, Hsbc Holdings PLC grew its position in shares of Molson Coors Beverage by 15.2% in the first quarter. Hsbc Holdings PLC now owns 255,293 shares of the company's stock valued at $10,990,000 after purchasing an additional 33,683 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

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