Molson Coors Beverage's (TAP) "Underweight" Rating Reiterated at Barclays

Key Points

• Molson Coors Beverage's stock rating remains "underweight" according to Barclays, which has set a price target of $50.00, reflecting a slight increase from their previous target.
• Numerous analysts have recently adjusted their price targets for Molson Coors, with JPMorgan lowering it to $53.00 and Needham reducing it to $58.00, showing a consensus average target of $58.18.
• Despite a recent earnings report that exceeded expectations, the company's revenue showed a decline of 1.6% compared to the same quarter last year, indicating potential challenges ahead.

Molson Coors Beverage (NYSE:TAP - Get Free Report)'s stock had its "underweight" rating reiterated by stock analysts at Barclays in a research note issued to investors on Friday, Marketbeat.com reports. They presently have a $50.00 price target on the stock, up from their prior price target of $49.00. Barclays's price objective indicates a potential upside of 1.75% from the company's current price.

Several other equities research analysts also recently issued reports on TAP. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Needham & Company LLC lowered their price target on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 9th. The Goldman Sachs Group decreased their target price on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company decreased their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $58.18.

Molson Coors Beverage Trading Up 0.2%

Shares of NYSE:TAP opened at $49.14 on Friday. The company has a market cap of $9.72 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.79 and a beta of 0.69. The stock's 50-day moving average is $50.26 and its 200-day moving average is $54.20. Molson Coors Beverage has a 52-week low of $46.94 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares during the last quarter. Millstone Evans Group LLC increased its holdings in shares of Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $30,000. Financial Management Professionals Inc. increased its holdings in shares of Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $33,000. Institutional investors own 78.46% of the company's stock.

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.

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