Barclays Lowers Molson Coors Beverage (NYSE:TAP) Price Target to $55.00

Molson Coors Beverage (NYSE:TAPGet Free Report) had its price target lowered by analysts at Barclays from $62.00 to $55.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 3.33% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on TAP. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Citigroup dropped their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, UBS Group lowered their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.07.

Read Our Latest Research Report on TAP

Molson Coors Beverage Trading Up 0.4 %

Shares of NYSE:TAP opened at $53.23 on Wednesday. Molson Coors Beverage has a 12-month low of $52.60 and a 12-month high of $70.90. The stock has a market cap of $11.28 billion, a PE ratio of 10.65, a P/E/G ratio of 1.91 and a beta of 0.86. The business has a 50 day moving average of $61.45 and a 200-day moving average of $62.01. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAPGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.69 earnings per share for the current year.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Czech National Bank grew its stake in shares of Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after purchasing an additional 174 shares during the last quarter. IMPACTfolio LLC grew its stake in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after purchasing an additional 176 shares during the last quarter. Syntax Advisors LLC grew its stake in shares of Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after purchasing an additional 185 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Molson Coors Beverage by 46.6% in the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after purchasing an additional 186 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

(Get Free Report)

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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Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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