Redburn slashes price target on Molson Coors Beverage Company [TAP] – find out why.

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Molson Coors Beverage Company [NYSE: TAP] loss -10.46% or -6.24 points to close at $53.44 with a heavy trading volume of 6200955 shares. The company report on August 2, 2022 that Molson Coors Beverage Company Reports 2022 Second Quarter Results.


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Molson Coors Delivers Fifth Consecutive Quarter of Top-Line Growth on a Constant Currency Basis.

Successes Against the Revitalization Plan Drive Favorable Shifts to Product Portfolio and Strong Global Core Brands Performance.

It opened the trading session at $57.01, the shares rose to $57.14 and dropped to $53.14, the range by which the price of stock traded the whole day. The daily chart for TAP points out that the company has recorded 12.13% gains over the past six months. However, it is still -25.86% lower than its most recent low trading price.

If we look at the average trading volume of 1.59M shares, TAP reached to a volume of 6200955 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Molson Coors Beverage Company [TAP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TAP shares is $55.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TAP stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Redburn have made an estimate for Molson Coors Beverage Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, Goldman raised their target price from $46 to $54. The new note on the price target was released on June 28, 2022, representing the official price target for Molson Coors Beverage Company stock. Previously, the target price had yet another drop from $60 to $54, while UBS kept a Neutral rating on TAP stock.

The Average True Range (ATR) for Molson Coors Beverage Company is set at 1.66, with the Price to Sales ratio for TAP stock in the period of the last 12 months amounting to 1.08. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 1.68. Price to Free Cash Flow for TAP in the course of the last twelve months was 15.20 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for TAP stock

Molson Coors Beverage Company [TAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.05. With this latest performance, TAP shares dropped by -3.92% in over the last four-week period, additionally plugging by 12.13% over the last 6 months – not to mention a rise of 8.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TAP stock in for the last two-week period is set at 36.42, with the RSI for the last a single of trading hit 27.95, and the three-weeks RSI is set at 41.70 for Molson Coors Beverage Company [TAP]. The present Moving Average for the last 50 days of trading for this stock 55.17, while it was recorded at 58.17 for the last single week of trading, and 50.92 for the last 200 days.

Molson Coors Beverage Company [TAP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Molson Coors Beverage Company [TAP] shares currently have an operating margin of +10.69 and a Gross Margin at +33.42. Molson Coors Beverage Company’s Net Margin is presently recorded at +9.78.

Return on Equity for this stock inclined to 7.80, with Return on Assets sitting at 3.66.

Molson Coors Beverage Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.80.

Molson Coors Beverage Company [TAP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Molson Coors Beverage Company go to 2.76%.

An analysis of insider ownership at Molson Coors Beverage Company [TAP]

There are presently around $9,215 million, or 89.70% of TAP stock, in the hands of institutional investors. The top three institutional holders of TAP stocks are: DODGE & COX with ownership of 30,246,969, which is approximately -1.205% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 21,329,879 shares of the stock with an approximate value of $1.14 billion in TAP stocks shares; and BLACKROCK INC., currently with $891.28 million in TAP stock with ownership of nearly -7.359% of the company’s market capitalization.

Positions in Molson Coors Beverage Company stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 293 institutional holders increased their position in Molson Coors Beverage Company [NYSE:TAP] by around 9,518,485 shares. Additionally, 255 investors decreased positions by around 12,060,051 shares, while 79 investors held positions by with 150,853,343 shares. The mentioned changes placed institutional holdings at 172,431,879 shares, according to the latest SEC report filing. TAP stock had 69 new institutional investments in for a total of 2,386,241 shares, while 59 institutional investors sold positions of 1,921,458 shares during the same period.

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