Molson Coors Beverage (NYSE:TAP) Sets New 12-Month Low After Earnings Miss

Molson Coors Beverage Company (NYSE:TAP) shares reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $42.94 and last traded at $43.61, with a volume of 5524374 shares traded. The stock had previously closed at $43.22.

The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of research analyst reports. Needham & Company LLC reduced their price target on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. Roth Capital reissued a “buy” rating and issued a $65.00 target price (down previously from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday. Jefferies Financial Group decreased their price target on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday. Weiss Ratings cut Molson Coors Beverage from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday. Finally, Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus price target of $54.56.

Insiders Place Their Bets

In other news, Director David S. Coors acquired 2,245 shares of Molson Coors Beverage stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the acquisition, the director owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Root Financial Partners LLC purchased a new position in shares of Molson Coors Beverage during the third quarter worth about $25,000. Millstone Evans Group LLC boosted its position in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the period. Clearstead Trust LLC grew its stake in Molson Coors Beverage by 952.8% during the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after buying an additional 505 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after buying an additional 221 shares during the last quarter. Finally, Elequin Capital LP purchased a new stake in Molson Coors Beverage in the first quarter valued at approximately $30,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

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 firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 8.69, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a fifty day moving average price of $46.56 and a two-hundred day moving average price of $50.16.

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.