Citigroup Lowers Molson Coors Beverage (NYSE:TAP) Price Target to $49.00

Key Points

• Citigroup has reduced its price target for Molson Coors Beverage (NYSE:TAP) from $51.00 to $49.00, maintaining a "neutral" rating, which suggests a potential upside of 7.09% from its previous close.
• Other analysts have also lowered their target prices, with Goldman Sachs adjusting theirs from $67.00 to $57.00 and Needham & Company from $65.00 to $58.00, indicating a trend of decreased valuations for the company.
• Molson Coors Beverage reported $2.05 earnings per share for the last quarter, surpassing estimates, though its quarterly revenue decreased by 1.6% year-over-year, reflecting challenges in maintaining growth.

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price target reduced by equities researchers at Citigroup from $51.00 to $49.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price suggests a potential upside of 7.09% from the company's previous close.

TAP has been the topic of a number of other reports. The Goldman Sachs Group reduced their target price on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, October 2nd. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Sanford C. Bernstein reduced their target price on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th. Piper Sandler reduced their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Finally, Bank of America downgraded shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $56.62.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded up $0.16 during midday trading on Thursday, hitting $45.76. The company had a trading volume of 738,290 shares, compared to its average volume of 2,460,364. The business's 50-day simple moving average is $48.73 and its 200-day simple moving average is $52.35. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage has a twelve month low of $43.80 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the company earned $1.92 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Twin Capital Management Inc. boosted its stake in shares of Molson Coors Beverage by 0.7% in the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock valued at $1,509,000 after purchasing an additional 180 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after purchasing an additional 198 shares during the period. Signet Financial Management LLC boosted its stake in shares of Molson Coors Beverage by 3.7% in the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company's stock valued at $277,000 after purchasing an additional 208 shares during the period. Callan Family Office LLC lifted its stake in Molson Coors Beverage by 5.0% in the first quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock worth $269,000 after acquiring an additional 209 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.