Molson Coors Beverage Company (NYSE:TAP) Stock Has Consensus Price Target of $42.41

Key Points

• Analyst sentiment is cautious: Eighteen brokerages give Molson Coors a consensus “Reduce” rating—seven sell, eight hold, and three buy recommendations—with an average 12-month price target of $42.41.
• Quarterly results were mixed: Earnings per share of $1.46 slightly beat estimates, but revenue of $2.93 billion missed consensus and fell 1.6% year over year; EPS was also down from $1.67 a year earlier.
• Shares traded at $40.75, below the average analyst target. Institutional investors and hedge funds collectively own 78.46% of the stock.

Shares of Molson Coors Beverage Company (NYSE:TAP - Get Free Report) have earned a consensus rating of "Reduce" from the eighteen brokerages that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $42.41.

A number of brokerages have recently issued reports on TAP. Weiss Ratings raised shares of Molson Coors Beverage from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, November 9th. UBS Group raised their price target on shares of Molson Coors Beverage from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Barclays raised their price target on shares of Molson Coors Beverage from $36.00 to $40.00 and gave the stock an "underweight" rating in a research report on Monday, November 9th. BNP Paribas Exane dropped their price objective on shares of Molson Coors Beverage from $34.00 to $33.00 and set an "underperform" rating for the company in a research note on Friday, September 18th. Finally, Wells Fargo & Company downgraded shares of Molson Coors Beverage from an "equal weight" rating to a "strong sell" rating and cut their price objective for the company from $38.00 to $36.00 in a report on Friday, November 6th.

Institutional Investors Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Advisors Network Inc. lifted its holdings in shares of Molson Coors Beverage by 5.1% in the 3rd quarter. Financial Advisors Network Inc. now owns 6,263 shares of the company's stock valued at $228,000 after acquiring an additional 305 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Molson Coors Beverage by 4.7% in the third quarter. TD Waterhouse Canada Inc. now owns 8,113 shares of the company's stock worth $301,000 after acquiring an additional 362 shares in the last quarter. William Blair Investment Management LLC grew its position in Molson Coors Beverage by 4.9% in the third quarter. William Blair Investment Management LLC now owns 8,009 shares of the company's stock worth $292,000 after acquiring an additional 375 shares in the last quarter. Parallel Advisors LLC increased its stake in Molson Coors Beverage by 6.8% during the third quarter. Parallel Advisors LLC now owns 6,017 shares of the company's stock worth $219,000 after acquiring an additional 385 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its stake in Molson Coors Beverage by 5.0% during the first quarter. Chicago Partners Investment Group LLC now owns 9,199 shares of the company's stock worth $393,000 after acquiring an additional 436 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP traded up $1.19 during mid-day trading on Friday, hitting $40.75. 2,479,096 shares of the stock were exchanged, compared to its average volume of 3,493,549. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 8.67 and a beta of 0.45. The firm's 50-day simple moving average is $38.90 and its 200 day simple moving average is $42.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.60 and a current ratio of 0.86. Molson Coors Beverage has a fifty-two week low of $35.52 and a fifty-two week high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm's quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Molson Coors Beverage will post 4.46 EPS for the current fiscal year.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a global brewer and beverage company with roots in the 18th-century Molson brewery in Canada and the 19th-century Coors brewery in Colorado. The businesses combined in 2005, and the company is headquartered in Chicago and Montreal. Its portfolio includes beer brands such as Coors Light, Miller Lite, Molson Canadian, Coors Banquet and Blue Moon, as well as other alcoholic and nonalcoholic beverages. The company brews, markets and distributes its products through its own operations and partner arrangements.

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