Molson Coors Beverage Company (NYSE:TAP) traded with an addition of $0.65 to close at $63.26on Friday, an upside of 1.04 percent. An average of 1,031,874 shares of common stock have been traded in the last five days. There was a fall of -$0.10 in the past week, and it reached a new high 42 times over the past 12 months. The last 20 days have seen an average of 1,316,258 shares traded, while the 50-day average volume stands at 1,618,857.
TAP stock has increased by 0.29% in the last month. The company shares reached their 1-month lowest point of $61.85 on 09/06/23. With the stock rallying to its 52-week high on 07/26/23, shares of the company touched a low of $46.69 and a high of $70.90 in 52 weeks. It has reached a new high 29 times so far this year and achieved 22.79% or $11.78 in price. In spite of this, the price is down -10.78% from the 52-week high.
Insider Transactions
TAP stock investors should be aware that Molson Coors Beverage Company (TAP) stock had its last reported insider trading activity 127 days ago on Aug 03.
Valuation Metrics
Molson Coors Beverage Company (TAP) has a trailing price-to-earnings (P/E) ratio of 363.56, which compares with the N/A for the broader industry. The stock’s beta is 0.89. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.22, the price-to-book (PB) ratio at 1.05, and the price-to-cash flow ratio at 12.19.
Financial Health
The quick ratio of Molson Coors Beverage Company for the three months ended June 29 was 0.64, and the current ratio was 0.87, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.49 and a total debt to equity ratio of 0.52 for the quarter ending June 29. Its gross profit as reported stood at $3.66 billion compared to revenue of $10.7 billion.
Earnings Surprise
For the three-month period that ended June 29, Molson Coors Beverage Company had $6.19 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $342.4 million in the quarter, while revenues of $72.5 million were grew 86.19%. The analyst consensus anticipated Molson Coors Beverage Company’s latest quarter earnings to come in at $1.63 per share, but it turned out to be $1.78, a 9.20% surprise. For the quarter, EBITDA amounted to $660.7 million. Shareholders own equity worth $216.2 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Molson Coors Beverage Company (TAP) price momentum. RSI 9-day as of the close on 28 September was 49.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 14.58%.
As of today, TAP’s price is $62.86 -0.16% or -$0.10 from its 5-day moving average. TAP is currently trading -0.30% lower than its 20-day SMA and -1.81% lower than its 100-day SMA. However, the stock’s current price level is -9.65% below the SMA50 and +19.52% above the SMA200.
The stochastic %K and %D were 25.17% and 23.21%, respectively, and the average true range (ATR) was 0.96. With the 14-day stochastic at 40.71% and the average true range at 0.98, the RSI (14) stands at 48.05%. The stock has reached -0.61 on the 9-day MACD Oscillator while the 14-day reading was at -0.77.
Analyst Ratings
BofA Securities upgraded Molson Coors Beverage Company (NYSE: TAP) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Underperform. The consensus rating for Molson Coors Beverage Company (TAP) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell TAP, while 13 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 others rate it as a “buy”.
What is TAP’s price target for the next 12 months?
Analysts predict a range of price targets between $57.00 and $77.00, with a median target of $70.00. Taking a look at these predictions, the average price target given by analysts for Molson Coors Beverage Company (TAP) stock is $69.25.
