The stock of Molson Coors Beverage Company (NYSE:TAP) increased by $0.23 on Monday to $63.08, up 0.37 percent. The last five days have seen an average of 1,098,278 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $11.55. The average number of shares traded over the last 20 days was 1,770,315, while the average volume over the last 50 days totaled 1,926,528.
TAP stock dropped -10.59% since last month. On 08/18/23, the company’s shares reached a one-month low of $61.97. The stock touched a high of $70.90 on 07/26/23, after rallying from a low of $46.69 in 52 weeks. The price of TAP stock has risen by 22.44% or $11.55 this year, reaching a new high 29 times. Still, the stock price is down -11.03% from the 52-week high.
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Insider Transactions
TAP stock investors should be aware that Molson Coors Beverage Company (TAP) stock had its last reported insider trading activity 25 days ago on Aug 03. On Aug 03, Director Winnefeld James A Jr acquired 100 shares at $67.08 each. This transaction resulted in the insider spending $6,708. On May 25, Molson Geoffrey E. sold 1,840 shares at a price of US$60.62. After the transaction, the insider now owns 25,904 shares.
Valuation Metrics
Molson Coors Beverage Company (TAP) has a trailing price-to-earnings (P/E) ratio of 362.53. Beta for the stock is 0.90. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.15, the price-to-book (PB) ratio of 1.05, and the price-to-cash flow ratio of 11.41.
Company paid $0.41 per share in dividends, remained unchanged from $0.41 last year.
Financial Health
For the three months ended June 29, Molson Coors Beverage Company’s quick ratio was 0.60, while its current ratio was 0.90, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.48, and the total debt to equity ratio is 0.51. As far as profitability goes, gross margin for the trailing twelve months is 34.90% percent. Molson Coors Beverage Company’s EBITDA margin for the year ended June 29 was 15.67%, whereas its operating margin stood at 4.20% for the same period. Based on annual data, it had gross profit of $3.66 billion and revenue of $10.7 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TAP’s return on assets (ROA) during the last 12 months has been 0.20%. There was a 0.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 0.30%.
Earnings Surprise
According to Molson Coors Beverage Company’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.82 billion, while revenues rose by 23.25% to $1.2 billion. It was predicted that Molson Coors Beverage Company’s quarterly earnings would be $1.78, but it ended up being $1.63, beating the consensus by 9.20%. EBITDA was $660.7 million for the quarter. At the end of Molson Coors Beverage Company’s most recent quarter ended June 29, its liabilities totaled 13.53 billion, while its total debt was $6.96 billion. Equity owned by shareholders amounts to $216.2 million.
Technical Picture
Here’s a quick look at Molson Coors Beverage Company’s (TAP) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 40.30%, suggesting the stock is Neutral, with a 13.88% historical volatility rate.
The stochastic %K and %D were 25.29% and 19.94% respectively, while the average true range (ATR) was 1.01. Based on the 14-day stochastic reading of 34.06%, the RSI (14) reading is 39.73%. On the 9-day MACD Oscillator, the stock is at 0.14, and the 14-day reading is at -0.43.
Analyst Ratings
In its most recent analyst report, BofA Securities raised its rating on Molson Coors Beverage Company (NYSE: TAP) to a Neutral. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Molson Coors Beverage Company (TAP) an Hold rating. TAP is a stock that is recommended for selling by 2 brokerage firms, while 13 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is TAP’s price target for the next 12 months?
The current consensus forecast for the stock is between $57.00 and $77.00, with a median target price of $70.00. In analyzing these forecasts, the average price target given by analysts for Molson Coors Beverage Company (TAP) is $69.69.
