Molson Coors Beverage Company [TAP] stock prices are up 0.52% to $67.81 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The TAP shares have gain 0.64% over the last week, with a monthly amount glided 3.42%, and seem to be holding up well over a long-time horizon.
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On 2, April 2024, Molson Coors Beverage Company to Webcast 2024 First Quarter Earnings Conference Call. In a post published today on Yahoo Finance, Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.B, TPX.A) will host a webcast of the company’s 2024 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, April 30, 2024. The company will release earnings at approximately 6:55 a.m. Eastern Time on the same day.
From an analyst’s perspective:
Molson Coors Beverage Company [NYSE: TAP] stock has seen the most recent analyst activity on April 09, 2024, when Goldman upgraded its rating to a Buy and also boosted its price target to $75 from $66. Previously, Piper Sandler started tracking the stock with Neutral rating on March 22, 2024, and set its price target to $69. On November 30, 2023, HSBC Securities initiated with a Hold rating and assigned a price target of $68 on the stock. Jefferies started tracking the stock assigning a Hold rating and suggested a price target of $62 on November 13, 2023. Deutsche Bank upgraded its rating to a Hold and raised its price target to $58 on November 03, 2023. BofA Securities upgraded its rating to Neutral for this stock on June 06, 2023, and upped its price target to $68. In a note dated May 03, 2023, JP Morgan upgraded an Neutral rating on this stock and boosted its target price from $59 to $64.
The stock price of Molson Coors Beverage Company [TAP] has been fluctuating between $53.23 and $70.90 over the past year. Currently, Wall Street analysts expect the stock to reach $64 within the next 12 months. Molson Coors Beverage Company [NYSE: TAP] shares were valued at $67.81 at the most recent close of the market. An investor can expect a potential drop of -5.62% based on the average TAP price forecast.
Analyzing the TAP fundamentals
The Molson Coors Beverage Company [NYSE:TAP] reported sales of 11.70B for trailing twelve months, representing a surge of 6.13%. Gross Profit Margin for this corporation currently stands at 0.37% with Operating Profit Margin at 0.12%, Pretax Profit Margin comes in at 0.11%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.07 and Total Capital is 0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.48.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 67.20 points at the first support level, and at 66.60 for the second support level. However, for the 1st resistance point, the stock is sitting at 68.28, and for the 2nd resistance point, it is at 68.76.
Molson Coors Beverage Company [TAP] reported earnings per share of $1.19 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.12/share, meaning a difference of $0.07 and a surprise factor of 6.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.92 per share as compared to estimates of $1.57 per share, a difference of $0.35 representing a surprise of 22.30%.
Ratios To Look Out For
It’s worth pointing out that Molson Coors Beverage Company [NYSE:TAP]’s Current Ratio is 0.70. Also, the Quick Ratio is 0.50, while the Cash Ratio stands at 0.21. Considering the valuation of this stock, the price to sales ratio is 1.23, the price to book ratio is 1.10 and price to earnings (TTM) ratio is 15.55.
Transactions by insiders
Recent insider trading involved Joubert Tracey, Chief Financial Officer, that happened on Feb 12 ’24 when 2771.0 shares were sold. Director, Winnefeld James A Jr completed a deal on Nov 03 ’23 to buy 100.0 shares. Meanwhile, Director Winnefeld James A Jr bought 100.0 shares on Aug 03 ’23.
