When times are bad it can be nice to relax with a beer. When times are good some celebrate with a beer. Because beer is an all-seasons refreshment, Molson Coors earnings have grown steadily including EPS growth ranging from 50% to 86% over the last three quarters. On Wednesday top-ranked Molson Coors stock got an upgrade to its Relative Strength (RS) Rating, from 65 to 71.
The 71 RS Rating shows that Molson Coors stock beat more than 70% of all stocks, regardless of industry segment, for price performance this past year. It's a good rating but still shy of the 80 RS Rating that CAN SLIM investors like to see before pulling the trigger on a buy. See if Molson Coors can continue to rebound and hit that benchmark.
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Molson Coors Stock No. 1 In Industry Group
Molson Coors stock holds the No. 1 rank among its peers in the 17-stock Beverages-Alcoholic industry group. Beer, wine and spirits maker Constellation Brands is No. 2 and MGP Ingredients is No. 3.
Golden, Colo.-based Molson Coors sells Coors Lite, Miller Lite, Carling, Miller High Life, Vizzy's Hard Seltzer and a variety of other beverage brands.
Among its other key ratings, Molson Coors stock has an 84 Composite Rating out of 99, an 88 Earnings Per Share Rating and a B- Accumulation/Distribution Rating. The B- A/D Rating shows that institutional investors like insurance funds and mutual funds are moderately heavy buyers of Molson Coors stock.
On Oct. 10, 2022, Molson Coors stock dropped to a 46.69 low as the 2022 bear market was ending. From there it rose as high as 70.90 on July 26 before consolidating. Wednesday afternoon it traded above 58, up fractionally for the day. While it's not currently an ideal time to jump in, see if the stock goes on to offer and clear a proper buy point.
Earnings Due Early Thursday
Looking at fundamentals, Molson Coors earnings grew 50% last quarter to $1.78 per share on a 12% rise in revenue to $3.27 billion. That's excellent EPS growth, though down from the prior quarter's 86% EPS leap. The company says on its website it plans to release third quarter earnings Thursday morning. Molson Coors stock could move on the report.
When researching the best stocks to buy and watch, relative price strength is a good indicator to check.
IBD's unique RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
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