Molson Coors Beverage Company [NYSE: TAP] slipped around -1.56 points on Wednesday, while shares priced at $59.73 at the close of the session, down -2.55%. The company report on January 31, 2024 at 6:00 AM that MADRI EXCEPCIONAL, INSPIRED BY THE SOUL OF MADRID AND THE FASTEST-GROWING BEER IN THE UNITED KINGDOM, LANDS IN CANADA.
Since its 2020 launch in the United Kingdom, Madri Excepcional has become a favourite for British pubgoers and is Molson Coors’ top-performing new brand of the last 20 years.
Molson Coors Beverage Company (“MCBC” or “Molson Coors”) (NYSE: TAP) (NYSE: TAP.A) is excited to introduce Madrí Excepcional to beer lovers in Canada starting this February. Following a wildly successful debut in the United Kingdom in 2020, Madri Excepcional has quickly become one of the most popular brands on the British pub scene and in grocery stores across the U.K. Inspired by El Alma de Madrid, Madri Excepcional is the first collaboration between Molson Coors and La Sagra brewery near Madrid. The outcome is a European-style lager positioned within Molson Coors’ roster of high-end offerings and has been cited as the company’s most successful new brand launch of the past several decades.
Compared to the average trading volume of 1.41M shares, TAP reached a trading volume of 4154560 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $67.34 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 2.68. 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.
HSBC Securities have made an estimate for Molson Coors Beverage Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 30, 2023.
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 1.12. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 3.72. Price to Free Cash Flow for TAP in the course of the last twelve months was 9.45 with Quick ratio for the last quarter at 0.53.
How has TAP stock performed recently?
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 -3.33. With this latest performance, TAP shares dropped by -4.13% in over the last four-week period, additionally sinking by -7.90% over the last 6 months – not to mention a rise of 11.48% 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 36.88, with the RSI for the last a single of trading hit 31.43, and the three-weeks RSI is set at 40.69 for Molson Coors Beverage Company [TAP]. The present Moving Average for the last 50 days of trading for this stock 62.09, while it was recorded at 61.50 for the last single week of trading, and 62.85 for the last 200 days.
Molson Coors Beverage Company [TAP]: Deeper insight into the fundamentals
Molson Coors Beverage Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.53 and a Current Ratio set at 0.73.
Earnings analysis for Molson Coors Beverage Company [TAP]
With the latest financial reports released by the company, Molson Coors Beverage Company posted 1.3/share EPS, while the average EPS was predicted by analysts to be reported at 1.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.50%. 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 12.98%.
Insider trade positions for Molson Coors Beverage Company [TAP]
The top three institutional holders of TAP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TAP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TAP stock with ownership which is approximately 5.8325%.
