Molson Coors Beverage (NYSE:TAP) PT Lowered to $47.00 at Citigroup

Molson Coors Beverage (NYSE:TAPGet Free Report) had its price target lowered by research analysts at Citigroup from $53.00 to $47.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price would suggest a potential downside of 6.80% from the company’s current price.

A number of other analysts also recently weighed in on TAP. Wells Fargo & Company cut their price target on shares of Molson Coors Beverage from $55.00 to $50.00 and set an “underweight” rating on the stock in a research report on Wednesday. Barclays cut their price target on shares of Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 29th. Evercore ISI cut their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.13.

Check Out Our Latest Stock Analysis on TAP

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $50.43 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $70.90. The company has a market cap of $10.68 billion, a PE ratio of 10.09, a PEG ratio of 1.81 and a beta of 0.81. The company’s 50-day moving average is $53.24 and its two-hundred day moving average is $59.99.

Molson Coors Beverage (NYSE:TAPGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Molson Coors Beverage will post 5.69 earnings per share for the current year.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds have recently made changes to their positions in the business. Czech National Bank grew its stake in shares of Molson Coors Beverage by 0.5% in the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after buying an additional 149 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after buying an additional 174 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 46.6% during the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of Molson Coors Beverage by 1.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares in the last quarter. Finally, Kentucky Retirement Systems lifted its holdings in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock worth $907,000 after buying an additional 221 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

About Molson Coors Beverage

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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