Yahoo Finance Molson Coors Brewing (TAP) is a Top-Ranked Momentum Stock: Should You Buy?
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Molson Coors Brewing (TAP)
Molson Coors Beverage Company, previously known as Molson Coors Brewing Company, was formed by the merger of Molson Inc. and Adolph Coors Co. in February 2005. The global manufacturer and seller of beer and other beverage products has an impressive diverse portfolio of owned and partner brands. These brands include global priority brands such as Blue Moon, Miller Lite, CoorsBanquet, Coors Light, Miller Genuine Draft and Staropramen; as well as regional champion brands like Carling, Molson Canadian. The company also boasts some other major country-specific brands, along with craft and specialty beers, namely, Creemore Springs, Henry's Hard, Cobra, Doom Bar and Leinenkugel's.
TAP boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Molson Coors Brewing has seen some interesting price action recently; the stock is down 2.1% over the past one week and up 10.2% over the past four weeks. And in the last one-year period, TAP has gained 13.1%. As for the stock's trading volume, 2,490,725.75 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For TAP, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.23 to $4.32 per share for 2023. TAP boasts an average earnings surprise of 32.1%.
Investors should take the time to consider TAP for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Molson Coors Beverage Company (TAP) : Free Stock Analysis Report
