Molson Coors Beverage Stock: Is Wall Street Bullish or Bearish?

Core Viewpoint - Molson Coors Beverage Company has faced challenges in the market, with its stock underperforming compared to broader indices, despite a year-to-date increase in share price. Group 1: Company Overview - Molson Coors Beverage Company, based in Chicago, Illinois, has a market capitalization of $10.2 billion and produces a variety of malt beverages, including flavored malt beverages, hard seltzers, craft spirits, and ready-to-drink products [1]. Group 2: Stock Performance - Over the past 52 weeks, shares of Molson Coors (TAP) have declined by 6.3%, while the S&P 500 Index has increased by 15.6% [2]. - Year-to-date, TAP's stock is up 9%, outperforming the S&P 500's return of 1.7% [2]. - TAP has also underperformed the Invesco Food & Beverage ETF, which rose by 6.1% over the past 52 weeks and 11.8% year-to-date [3]. Group 3: Financial Performance - In Q3, TAP reported a 2.3% year-over-year decline in net sales to $3 billion, missing Wall Street estimates by 1.7% [5]. - The adjusted EPS for Q3 decreased by 7.2% from the previous year to $1.67, falling short of analyst expectations of $1.72 [5]. - Analysts project a 9.7% year-over-year decline in EPS for the current fiscal year, estimating it to be $5.38 [6]. Group 4: Analyst Ratings - Among 20 analysts covering TAP, the consensus rating is a "Hold," with ratings including four "Strong Buy," one "Moderate Buy," 13 "Hold," and two "Strong Sell" [6]. - An analyst from AllianceBernstein maintained a "Hold" rating on TAP with a price target of $50, indicating a potential upside of 41.5% from the current levels based on the Street-high price target of $72 [9].