Molson Coors Beverage (NYSE:TAP) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other analysts also recently issued research reports about the company. TD Cowen reduced their price objective on 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. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, Barclays lifted their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $62.00.

Molson Coors Beverage Stock Down 3.4 %

TAP opened at $55.27 on Wednesday. The firm has a market cap of $11.39 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The business has a 50 day moving average price of $59.37 and a 200 day moving average price of $55.61.

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, beating analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 EPS. Research analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.18%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 39.64%.

Institutional Inflows and Outflows

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