The stock of Molson Coors Beverage Company (NYSE:TAP) last traded at $52.86, up 0.69% from the previous session.
TAP stock price is now -12.79% away from the 50-day moving average and -14.18% away from the 200-day moving average. The market capitalization of the company currently stands at $11.20B.
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With the price target reduced from $66 to $56, Citigroup Downgraded its rating from Neutral to Sell for Molson Coors Beverage Company (NYSE: TAP). On April 09, 2024, Goldman Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $66 to quote $75, while ‘Piper Sandler’ rates the stock as ‘Neutral’
In other news, Joubert Tracey, Chief Financial Officer sold 2,771 shares of the company’s stock on Feb 12 ’24. The stock was sold for $167,285 at an average price of $60.37. Upon completion of the transaction, the Chief Financial Officer now directly owns 60,538 shares in the company, valued at $3.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 03 ’23, Director Winnefeld James A Jr bought 100 shares of the business’s stock. A total of $5,902 was incurred on buying the stock at an average price of $59.02. This leaves the insider owning 16,093 shares of the company worth $0.85 million. A total of 17.86% of the company’s stock is owned by insiders.
During the past 12 months, Molson Coors Beverage Company has had a low of $52.28 and a high of $70.90. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 0.69, and a quick ratio of 0.47. According to the stock market information, the enterprise value for the company is $17415866368, which is based on a 10.58 price-to-earnings ratio, a 2.60 price-to-earnings-growth ratio, and a beta of 0.83. The fifty day moving average price for TAP is $60.3346 and a two-hundred day moving average price translates $61.5479 for the stock.
The latest earnings results from Molson Coors Beverage Company (NYSE: TAP) was released for 2024-03-31. The net profit margin was 9.07% and return on equity was 8.40% for TAP. The company reported revenue of $2.6 billion for the quarter, compared to $2.35 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.66 percent.
