Molson Coors Beverage (NYSE:TAP) Downgraded by UBS Group to “Neutral”

Posted by on Jun 21st, 2022

Molson Coors Beverage (NYSE:TAP – Get Rating) was downgraded by UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, FinViz reports. They presently have a $54.00 price target on the stock, down from their previous price target of $60.00. UBS Group’s price objective suggests a potential upside of 7.21% from the company’s current price.

Other research analysts have also issued reports about the company. Sanford C. Bernstein lowered Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 target price for the company. in a research report on Tuesday, May 17th. Citigroup raised their target price on Molson Coors Beverage from $58.00 to $61.00 in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $49.00 to $51.00 in a research report on Wednesday, April 27th. Morgan Stanley lifted their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 24th. Finally, TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.00.

Shares of TAP opened at $50.37 on Tuesday. Molson Coors Beverage has a 52 week low of $42.46 and a 52 week high of $57.45. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.54 and a current ratio of 0.81. The stock has a fifty day moving average of $53.87 and a 200-day moving average of $51.02.

Molson Coors Beverage (NYSE:TAP – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. Molson Coors Beverage had a return on equity of 7.12% and a net margin of 8.36%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company earned $0.01 EPS. Molson Coors Beverage’s revenue was up 16.7% compared to the same quarter last year. As a group, equities analysts forecast that Molson Coors Beverage will post 4 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Quent Capital LLC bought a new stake in Molson Coors Beverage during the 4th quarter valued at $27,000. Retirement Planning Co of New England Inc. bought a new stake in Molson Coors Beverage during the 4th quarter valued at $28,000. Dark Forest Capital Management LP bought a new stake in Molson Coors Beverage during the 3rd quarter valued at $30,000. Whittier Trust Co. raised its holdings in Molson Coors Beverage by 162.6% during the 4th quarter. Whittier Trust Co. now owns 646 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the period. Finally, Tobam bought a new stake in Molson Coors Beverage during the 1st quarter valued at $37,000. 79.62% of the stock is currently owned by institutional investors.

About Molson Coors Beverage (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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