As of Wednesday close, Molson Coors Beverage Company’s (NYSE:TAP) stock was down -$1.2, moving down -1.89 percent to $62.45. The average number of shares traded per day over the past five days has been 1,348,500 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.16 fall in that time frame. In the last twenty days, the average volume was 2,076,010, while in the previous 50 days, it was 2,161,198.
Since last month, TAP stock retreated -8.03%. Shares of the company fell to $62.33 on 08/16/23, the lowest level in the past month. A 52-week high of $70.90 was reached on 07/26/23 after having rallying from a 52-week low of $46.69. Since the beginning of this year, TAP’s stock price has risen by 21.22% or $10.93, and marked a new high 29 times. However, the stock has declined by -11.92% since its 52-week high.
TAP stock investors should be aware that Molson Coors Beverage Company (TAP) stock had its last reported insider trading activity 14 days ago on Aug 03. Winnefeld James A Jr, the Director of the company, purchased of 100 shares for $67.08 on Aug 03. It resulted in a $6,708 investment by the insider. Molson Geoffrey E. sold 1,840 shares at an average price of $60.62 on May 25. The insider now owns 25,904 shares following the transaction.
Valuation Metrics
Right now, Molson Coors Beverage Company (TAP) has a P/E ratio of about 358.91. The stock’s beta is 0.90. Besides these, the trailing price-to-sales (P/S) ratio of 1.14, the price-to-book (PB) ratio of 1.04, and the price-to-cash flow ratio of 11.36 may also be considered.
The latest dividend of $0.41 per share was paid out, remained unchanged from last year’s $0.41.
Financial Health
In the three months ended June 29, Molson Coors Beverage Company’s quick ratio stood at 0.60, while its current ratio was 0.90, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.48, and the total debt-to-equity ratio was 0.51. On the profitability front, the trailing twelve-month gross margin is 34.90% percent. In the year ended June 29, EBITDA margin amounted to 15.67%, whereas operating margins totaled 4.20%. Based on annual data, TAP earned $3.66 billion in gross profit and brought in $10.7 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 0.20%. Return on equity (ROE) for the past 12 months was 0.30%.
In Molson Coors Beverage Company’s quarter-end financial report for June 29, it reported total debt of $6.19 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. TAP’s revenue fell -44.97% to $1.2 billion during the quarter, while net income inched up to $1.82 billion. While analysts expected Molson Coors Beverage Company to report $1.63 quarterly earnings, the actual figure was $1.78 per share, beating the consensus estimate by 9.20%. During the quarter, the company generated $660.7 million in EBITDA. The liabilities of Molson Coors Beverage Company were 13.53 billion at the end of its most recent quarter ended June 29, and its total debt was $6.96 billion. The value of shareholders’ equity is $216.2 million.
Technical Picture
This quick technical analysis looks at Molson Coors Beverage Company’s (TAP) price momentum. With a historical volatility rate of 10.20%, the RSI 9-day stood at 22.82% on 16 August.
With respect to its five-day moving average, the current Molson Coors Beverage Company price is down by -3.34% percent or -$2.16. At present, TAP shares trade -9.73% below its 20-day simple moving average and +26.01% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.13% below its SMA50 and +25.23% above its SMA200.
Stochastic coefficient K was 4.42% and Stochastic coefficient D was 6.05%, while ATR was 1.33. Given the Stochastic reading of 1.34% for the 14-day period, the RSI (14) reading has been calculated as 30.62%. As of today, the MACD Oscillator reading stands at -0.80, while the 14-day reading stands at -2.06.
Analyst Ratings
BofA Securities upgraded its rating on Molson Coors Beverage Company (NYSE: TAP) to a Neutral in a note to investors on June 06, 2023. The analysts firm previously had an Underperform rating on the stock.Molson Coors Beverage Company (TAP) has been rated Hold by analysts. According to 2 brokerage firms, TAP is a sell, and 13 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Molson Coors Beverage Company stock as buy, with 4 recommending it as overweight.
With a median target price of $70.00, the current consensus forecast for the stock is $57.00 – $77.00. Based on these forecasts, analysts predict Molson Coors Beverage Company (TAP) will achieve an average price target of $69.69.
