Molson Coors Beverage (NYSE:TAP) Earns Neutral Rating from Analysts at BNP Paribas

BNP Paribas began coverage on shares of Molson Coors Beverage (NYSE:TAP) in a note issued to investors on Monday, Marketbeat reports. The firm set a “neutral” rating and a $64.00 price target on the stock. BNP Paribas’ price target suggests a potential upside of 4.22% from the stock’s previous close.

A number of other equities research analysts also recently commented on TAP. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group raised their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Finally, Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $60.57.

Molson Coors Beverage Price Performance

Shares of TAP opened at $61.41 on Monday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82. The firm has a 50-day simple moving average of $56.94 and a 200-day simple moving average of $54.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Institutional Trading of Molson Coors Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Farther Finance Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after acquiring an additional 182 shares in the last quarter. Integrated Investment Consultants LLC grew its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares during the last quarter. Perpetual Ltd boosted its stake in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after purchasing an additional 197 shares during the period. SkyView Investment Advisors LLC boosted its stake in Molson Coors Beverage by 1.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after purchasing an additional 274 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Molson Coors Beverage by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after purchasing an additional 277 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.