UBS Group Issues Pessimistic Forecast for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its target price cut by analysts at UBS Group from $60.00 to $58.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 5.56% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Monday. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average price target of $62.00.

Molson Coors Beverage Stock Up 0.9 %

Shares of TAP traded up $0.48 during trading hours on Thursday, reaching $54.95. The company’s stock had a trading volume of 847,882 shares, compared to its average volume of 1,760,486. The company has a 50 day moving average of $59.22 and a two-hundred day moving average of $55.86. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.96 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company 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 EPS. The company’s revenue was down 7.8% compared to the same quarter last year. As a group, research analysts predict that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage in the 2nd quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage in the third quarter valued at about $35,000. Gladius Capital Management LP bought a new position in Molson Coors Beverage during the third quarter valued at about $42,000. Quarry LP acquired a new position in Molson Coors Beverage in the 2nd quarter valued at approximately $54,000. Finally, True Wealth Design LLC acquired a new position in Molson Coors Beverage in the 3rd quarter valued at approximately $59,000. 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.