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Should You Buy #1 (Strong Buy)-Ranked Molson Coors Brewing (TAP) for Your Portfolio?
Molson Coors Brewing was upgraded to the Zacks Rank #1 list on February 17, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
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.
For fiscal 2024, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.25 to $5.66 per share. TAP boasts an average earnings surprise of 37.2%.
Earnings are forecasted to see growth of 4.2% for the current fiscal year, and sales are expected to increase 1.3%.
Additionally, TAP has climbed higher over the past four weeks, gaining 5.1%. The S&P 500 is up 3.2% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Molson Coors Brewing could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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Molson Coors Beverage Company (TAP) : Free Stock Analysis Report
