Jefferies lifts Molson Coors Beverage Company [TAP] rating to Buy and price target to $57

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.

Get the hottest stocks to ‎trade every day before the market opens 100% ‎free. Click here now. ‎‎

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.‎‎

Get the hottest stocks to ‎trade every day before the market opens 100% ‎free. Click here ‎now. 

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.‎

Related posts