Citigroup Has Lowered Expectations for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its target price lowered by analysts at Citigroup from $51.00 to $49.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 6.52% from the stock’s previous close.

Several other analysts have also recently issued reports on TAP. Piper Sandler dropped their target price on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Needham & Company LLC dropped their target price on Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Barclays reiterated an “underweight” rating and set a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. UBS Group lowered their price target on Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Evercore ISI lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.62.

Molson Coors Beverage Stock Down 0.0%

Shares of NYSE:TAP opened at $46.00 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $48.63 and a two-hundred day moving average of $52.17. The stock has a market cap of $9.10 billion, a P/E ratio of 9.07, a PEG ratio of 1.68 and a beta of 0.63. Molson Coors Beverage has a 52-week low of $43.80 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. USA Financial Formulas purchased a new position in Molson Coors Beverage during the 3rd quarter valued at about $172,000. Sound Income Strategies LLC boosted its holdings in Molson Coors Beverage by 3.2% during the 3rd quarter. Sound Income Strategies LLC now owns 112,481 shares of the company’s stock valued at $5,175,000 after acquiring an additional 3,444 shares during the period. Louisbourg Investments Inc. boosted its holdings in Molson Coors Beverage by 2,800.0% during the 3rd quarter. Louisbourg Investments Inc. now owns 3,770 shares of the company’s stock valued at $171,000 after acquiring an additional 3,640 shares during the period. Addenda Capital Inc. boosted its holdings in Molson Coors Beverage by 5.7% during the 3rd quarter. Addenda Capital Inc. now owns 14,820 shares of the company’s stock valued at $671,000 after acquiring an additional 799 shares during the period. Finally, Wilsey Asset Management Inc. boosted its holdings in Molson Coors Beverage by 4.9% during the 3rd quarter. Wilsey Asset Management Inc. now owns 591,259 shares of the company’s stock valued at $26,754,000 after acquiring an additional 27,819 shares during the period. 78.46% of the stock is currently 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.