Jefferies took its Molson Coors Beverage Company [TAP] rating to the equivalent of a Buy from a Hold, and the price target to $57 from $36, in a research note dated January 04, 2021. That figure represents around a 26.16% premium from where the company’s shares closed on Thursday. Meanwhile, Wells Fargo had launched its coverage on TAP with “an Equal weight”, in a research note produced for clients December 08, 2020. In addition, there was no change from Guggenheim on October 07, 2020. The rater maintained TAP to “a Buy” but assigned new target price of $62.
Is Molson Coors Beverage Company [NYSE:TAP] a Good Buy Right Now?
It should be noted that TAP technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 72% Buy in the past month. Data from Molson Coors Beverage Company’s Trend Spotter indicated that the signals were Weakest. The stock current average is 1.88 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 2.59 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 2.37 million shares.
TAP Price Performance
On Wall Street, Molson Coors Beverage Company [NYSE:TAP] finished Thursday’s session down -0.11% at $45.19. The stock went up to $45.28 at the same session while its lowest single day price was $44.8154. In the last five days, it saw a fall of about -0.44%, Molson Coors Beverage Company shares dropped by almost -16.16% since the beginning of the year. However, the share price has dropped to as low as -27.04% below its one year high. On 02/12/20, the company shares recorded $61.94, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 09/24/20, the same year at $32.11. The company’s shares have declined by -15.60% in the past year. The 50-day SMA achieved is $42.92 while the 200-day SMA is $39.01. Volume dropped to 1.03 million from 1.2 million in the previous session.
Molson Coors Beverage Company [TAP] Valuation Measures
Notably, Molson Coors Beverage Company [TAP] stock can be classified as a good candidate in the listing of underestimated low-priced Beverages - Brewers companies to purchase soonest possible with the prevailing 12-month PE ratio of 16.78. The measure means the stock is exchanging at a discount as compared to the 25.22x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.00 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 2.08 which means TAP serve an attractive investment opportunity compared to its competitors.
TAP Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 44.91 level, and in case of violation of this particular level, it will cause more drop to 44.63 level. On the upper level, 45.56 is still the key resistance. The stock may increase to the subsequent resistance at 45.37. The Relative Strength Index (RSI) pinned on the 14-day chart is 51.05, implying a neutral technical stance while the MACD stands at -0.27, meaning price will decrease in the next trading period. Percent R indicator moved to 70.98%, implying bearish price movement. Stochastic %K at 30.99% suggest selling the stock.
What is the short interest in Molson Coors Beverage Company?
Short interest in the Molson Coors Beverage Company stock has surged, increasing by 1.4 million shares to total 10.48 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 11.88 million, data from Yahoo Finance shows. The decrease of -13.36% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 7.00% of the overall float for the stock.
Molson Coors Beverage Company’s Biggest Shareholders: Who Owns Molson Coors Beverage Company [TAP]?
Filings by Dodge & Cox showed that the firm now holds a total of 29,806,693 shares or roughly 14.88% of the outstanding TAP shares. This means their shares have increased by 6,698,355 from the 29,806,693 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $844,876,066. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 1.19% stake valued at $431,663,954 while SSgA Funds Management, Inc. cut theirs at $414,838,166. During the last quarter, BlackRock Fund Advisors raised 110,801 of its shares in Molson Coors Beverage Company while SSgA Funds Management, Inc. sold -215,442 shares. The Clarkston Capital Partners LLC’s holdings currently number 5,887,564 shares at $266059017.16. According to the firm’s last 13F report, LSV Asset Management shares in the company at filing stood at 5,822,167 shares, roughly $267,819,682.
TAP Earnings Forecast For The Current Quarter
Molson Coors Beverage Company [TAP] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $2.41B and an earnings per share of $0.77 for Dec 2020. Looking further ahead, the company is expected to report revenue of $2.17B at an EPS of $0.36 for Mar 2021. The estimates represent downside of 4.30% and -0.43% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
TAP Earnings Estimates For The Current Year
For the financial year, Molson Coors Beverage Company [NYSE:TAP] is expected to bring in revenue of $9.8B. The returns are nearly $-780.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 4.19, lower than that of FY19 by -$0.35. Estimates put this year’s earnings growth at -7.70%, -0.20% for the next, and at an annual -2.10% over the next 5-year period. As for sales, forecasts are for a decrease of -7.40% in the current fiscal year and a further 4.30% over the following year.