Streetbeat News

TAP

Molson Coors Beverage Company

https://www.molsoncoors.com

Industry

Beverages - Alcoholic

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is based in Golden, Colorado.

Open

60.84

Mkt cap

13B

Volume

852K

High

61.74

P/E Ratio

13.75

52-wk high

69.18

Low

60.68

Div yield

0.03

52-wk low

49.19

Molson Coors Beverage (NYSE:TAP) received 9 analyst ratings in the last quarter, with 1 bullish, 7 indifferent, and 1 somewhat bearish. The average 12-month price target is $67.00, with a high of $77.00 and a low of $58.00, representing a 1.47% decrease from the previous target of $68.00. Analysts rate stocks based on future earnings potential and company risk profile, typically updating their ratings quarterly or after significant company events.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 2:00 pm

HSBC analyst Carlos Laboy has initiated coverage on Molson Coors Beverage (NYSE:TAP) with a Hold rating and set a price target of $68.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:10 pm

Jefferies analyst Kaumil Gajrawala has initiated coverage on Molson Coors Beverage (NYSE:TAP) with a Hold rating and set a price target of $62.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 11:52 am

Constellation Brands, Inc. (STZ) has let all its warrants to acquire shares of Canopy Growth Corp. (CGC) expire, stating it has no current plans related to Canopy. This means Constellation no longer beneficially owns any of the common shares underlying the warrants. However, through its subsidiaries, it still holds a stake in Canopy amounting to 171.5 million common shares or around 20.7% of the total outstanding shares. Other alcohol companies, such as Molson Coors Beverages Co. (TAP), have also invested in the cannabis industry. Additionally, tobacco company British American Tobacco (BTI) has made a strategic equity investment in Canadian cannabis company Organigram Holdings Inc. (OGI).

Portfolio Pulse from Jelena Martinovic

November 07, 2023 | 6:19 pm

Wedbush analyst Gerald Pascarelli has reiterated a Neutral rating on Molson Coors Beverage (NYSE:TAP) and maintained a $70 price target.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 3:30 pm

Over the past 3 months, 6 analysts have published their opinion on Molson Coors Beverage (NYSE:TAP) stock. The average price target is $67.17, implying an upside from the current price of $59.28. The current average has decreased by 1.22% from the previous average price target of $68.00.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 8:00 pm

Deutsche Bank analyst Steve Powers has upgraded Molson Coors Beverage (NYSE:TAP) from Sell to Hold and raised the price target from $57 to $58.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 12:02 pm

Molson Coors Beverage Company (NYSE:TAP) reported Q3 FY23 sales growth of 12.4% YoY to $3.30 billion, beating the analyst consensus estimate of $3.24 billion. The revenue increase was driven by favorable price and sales mix, higher financial volumes, and favorable foreign currency impacts. The company reaffirmed FY23 net sales guidance of high single-digit increase versus 2022 on a constant currency basis. TAP shares traded lower by 2.61% at $56.68 on the last check Thursday.

Portfolio Pulse from Shivani Kumaresan

November 02, 2023 | 3:47 pm

Molson Coors has reaffirmed its revenue growth forecast for FY23, expecting high single-digit growth compared to 2022.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:14 am

Molson Coors Beverage (NYSE:TAP) reported Q3 adjusted earnings of $1.92 per share, beating the analyst consensus estimate of $1.54 by 24.68%. This is a 45.45% increase from the same period last year. The company also reported quarterly sales of $3.30 billion, beating the analyst consensus estimate of $3.24 billion by 1.79%, a 12.37% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 11:03 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.