Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $50.00 at Evercore ISI

Molson Coors Beverage (NYSE:TAP) had its price target decreased by analysts at Evercore ISI from $53.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target points to a potential upside of 12.54% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Morgan Stanley cut their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Citigroup dropped their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group dropped their target price on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.93.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $44.43 on Wednesday. The company has a market capitalization of $8.78 billion, a P/E ratio of 8.70, a P/E/G ratio of 1.60 and a beta of 0.65. The business has a fifty day simple moving average of $46.80 and a two-hundred day simple moving average of $50.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage has a 1 year low of $42.94 and a 1 year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TAP. Root Financial Partners LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter worth $25,000. Millstone Evans Group LLC increased its stake in Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Clearstead Trust LLC increased its stake in Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after acquiring an additional 505 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares in the last quarter. Finally, Elequin Capital LP bought a new stake in shares of Molson Coors Beverage during the 1st quarter valued at about $30,000. Institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

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.