Weiss Ratings Reaffirms "Hold (C)" Rating for Molson Coors Beverage (NYSE:TAP)

Key Points

• Weiss Ratings reiterated a "Hold (C)" rating for Molson Coors Beverage (NYSE:TAP) in a recent research note.
• Analysts have adjusted their price targets for the stock, with Evercore ISI decreasing it from $58.00 to $53.00, while Citigroup set a new target of $49.00.
• Molson Coors reported a quarterly EPS of $2.05, exceeding the consensus estimate of $1.83, but revenue decreased by 1.6% year-over-year.

Molson Coors Beverage (NYSE:TAP - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other research firms have also recently issued reports on TAP. Evercore ISI cut their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Citigroup reduced their price objective on shares of Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, October 9th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Barclays restated an "underweight" rating and issued a $50.00 price objective (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Finally, Piper Sandler lowered their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.62.

Molson Coors Beverage Trading Up 1.3%

Molson Coors Beverage stock traded up $0.61 during trading on Tuesday, reaching $46.64. The company had a trading volume of 1,045,066 shares, compared to its average volume of 2,456,993. Molson Coors Beverage has a 12-month low of $43.80 and a 12-month high of $64.66. The stock's 50 day moving average price is $48.58 and its two-hundred day moving average price is $51.95. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 1.68 and a beta of 0.63. 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 released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. Molson Coors Beverage'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. As a group, equities analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Molson Coors Beverage by 14.2% in the 1st quarter. GAMMA Investing LLC now owns 5,362 shares of the company's stock valued at $326,000 after purchasing an additional 667 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Molson Coors Beverage by 2.8% during the 1st quarter. SG Americas Securities LLC now owns 19,875 shares of the company's stock valued at $1,210,000 after purchasing an additional 550 shares during the last quarter. Fifth Third Bancorp grew its stake in Molson Coors Beverage by 23.3% during the first quarter. Fifth Third Bancorp now owns 10,939 shares of the company's stock worth $666,000 after buying an additional 2,064 shares during the last quarter. Mission Wealth Management LP grew its stake in Molson Coors Beverage by 4.3% during the first quarter. Mission Wealth Management LP now owns 12,732 shares of the company's stock worth $775,000 after buying an additional 521 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Molson Coors Beverage by 86.1% during the first quarter. Janney Montgomery Scott LLC now owns 23,681 shares of the company's stock worth $1,442,000 after buying an additional 10,958 shares during the last quarter. 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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