Molson Coors Beverage Company [NYSE: TAP] stock went on an upward path that rose over 3.61% on Thursday, amounting to a one-week price increase of more than 7.10%. The company report on April 4, 2023 that Molson Coors Beverage Company to Webcast 2023 First Quarter Earnings Conference Call.
Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.B, TPX.A) will host a webcast of the company’s 2023 First Quarter Earnings Conference Call with investors and financial analysts at 11:00 a.m. Eastern Time (9:00 a.m. Mountain Time) on Tuesday, May 2, 2023. The company will release earnings at approximately 7:00 a.m. Eastern Time on the same day. Company executives participating in the conference call will include Gavin Hattersley, President and Chief Executive Officer, and Tracey Joubert, Chief Financial Officer.
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The webcast will be accessible via the Investor Relations page of the Molson Coors Beverage Company website, ir.molsoncoors.com. An online replay of the earnings call webcast will be posted within two hours following the live webcast and will be available until 11:59 p.m. Eastern Time on July 31, 2023.
Over the last 12 months, TAP stock rose by 6.42%. The one-year Molson Coors Beverage Company stock forecast points to a potential downside of -2.4. The average equity rating for TAP stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $11.51 billion, with 216.60 million shares outstanding and 166.08 million shares in the current float. Compared to the average trading volume of 1.66M shares, TAP stock reached a trading volume of 4250059 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $54.91 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 3.00. 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.
Citigroup have made an estimate for Molson Coors Beverage Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 17, 2023. While these analysts kept the previous recommendation, Cowen raised their target price from $55 to $60. The new note on the price target was released on January 06, 2023, representing the official price target for Molson Coors Beverage Company stock. Previously, the target price had yet another drop from $52 to $45, while Wells Fargo kept a Underweight rating on TAP stock.
The Average True Range (ATR) for Molson Coors Beverage Company is set at 1.17, 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 0.96, with the Price to Cash per share for the same quarter was set at 2.93. Price to Free Cash Flow for TAP in the course of the last twelve months was 22.51 with Quick ratio for the last quarter at 0.50.
TAP Stock Performance Analysis:
Molson Coors Beverage Company [TAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.10. With this latest performance, TAP shares gained by 8.45% in over the last four-week period, additionally plugging by 17.76% over the last 6 months – not to mention a rise of 6.42% 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 72.37, with the RSI for the last a single of trading hit 81.31, and the three-weeks RSI is set at 66.26 for Molson Coors Beverage Company [TAP]. The present Moving Average for the last 50 days of trading for this stock 52.41, while it was recorded at 53.97 for the last single week of trading, and 52.53 for the last 200 days.
Insight into Molson Coors Beverage Company Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Molson Coors Beverage Company [TAP] shares currently have an operating margin of +9.27 and a Gross Margin at +31.80. Molson Coors Beverage Company’s Net Margin is presently recorded at -1.64.
Return on Total Capital for TAP is now 4.89, given the latest momentum, and Return on Invested Capital for the company is -0.90. Return on Equity for this stock declined to -1.34, with Return on Assets sitting at -0.66. When it comes to the capital structure of this company, Molson Coors Beverage Company [TAP] has a Total Debt to Total Equity ratio set at 52.85. Additionally, TAP Total Debt to Total Capital is recorded at 34.58, with Total Debt to Total Assets ending up at 25.92. Long-Term Debt to Equity for the company is recorded at 49.37, with the Long-Term Debt to Total Capital now at 32.30.
Reflecting on the efficiency of the workforce at the company, Molson Coors Beverage Company [TAP] managed to generate an average of -$10,560 per employee. Receivables Turnover for the company is 12.26 with a Total Asset Turnover recorded at a value of 0.40.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.
TAP Stock EPS
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 2.82%.
Molson Coors Beverage Company [TAP] Insider Position Details
There are presently around $9,175 million, or 87.20% of TAP stock, in the hands of institutional investors. The top three institutional holders of TAP stocks are: DODGE & COX with ownership of 27,087,904, which is approximately -2.558% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 21,825,412 shares of the stock with an approximate value of $1.18 billion in TAP stocks shares; and BLACKROCK INC., currently with $863.5 million in TAP stock with ownership of nearly 2.779% of the company’s market capitalization.
Positions in Molson Coors Beverage Company stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 304 institutional holders increased their position in Molson Coors Beverage Company [NYSE:TAP] by around 8,326,477 shares. Additionally, 254 investors decreased positions by around 5,993,255 shares, while 90 investors held positions by with 154,735,869 shares. The mentioned changes placed institutional holdings at 169,055,601 shares, according to the latest SEC report filing. TAP stock had 74 new institutional investments in for a total of 2,570,738 shares, while 57 institutional investors sold positions of 2,284,993 shares during the same period.