Molson Coors Beverage (NYSE:TAP) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Molson Coors Beverage (NYSE:TAP) had its price objective lifted by investment analysts at Morgan Stanley from $60.00 to $63.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 4.43% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday. UBS Group cut their target price on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $62.73.

Molson Coors Beverage Stock Up 3.0 %

Shares of NYSE:TAP opened at $60.33 on Friday. 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 has a 52-week low of $49.19 and a 52-week high of $69.18. The business’s 50 day simple moving average is $56.50 and its two-hundred day simple moving average is $56.34. The firm has a market cap of $12.43 billion, a P/E ratio of 13.59, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. As a group, research analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Molson Coors Beverage during the fourth quarter worth about $142,407,000. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth approximately $48,202,000. State Street Corp grew its stake in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Molson Coors Beverage during the 4th quarter valued at $29,913,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Molson Coors Beverage during the fourth quarter worth $27,660,000. Hedge funds and other 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.