Molson Coors Hits 80-Plus RS Rating, Clearing Benchmark; Stock Popped 80% In Less Than 9 Months

As the pandemic eases and economies reopen, consumers are turning toward leisure activities like picnics, ballgames and family outings. Beer is often a staple at such gatherings and iconic beer brewer Molson Coors, maker of Coors Light, Carling, Blue Moon and other brands, stands to benefit. On Thursday the Relative Strength (RS) Rating for Molson Coors Beverage Co. (TAP) climbed into a new percentile, with a rise from 78 to 82.

The 82 Relative Strength Rating means Molson Coors has outperformed 82% of all stocks over the past year. Market research shows that the best-performing stocks tend to have an RS Rating north of 80 as they begin their biggest runs.

Molson Coors, whose brewing roots go back more than 200 years, is the fifth-largest brewer in the world, selling 15 brands in more than 100 countries.

Among other key ratings, Golden, Colo.-based Molson Coors has a weak 48 Composite Rating, of 99, reflecting weakness amid the stay-at-home situation. On the positive side, TAP stock has a B+ Accumulation/Distribution Rating, on an A+ to E scale. The B+ rating shows that funds and other large institutions are heavily buying its shares.

In terms of fundamentals, last quarter the brewing company reported a 97% drop in earnings to 1 cent per share. Sales dipped 10% to $1.9 billion.

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