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Bull Of The Day: Molson Coors (TAP)
Molson Coors (TAP - Free Report) is a Zacks Rank #1 (Strong Buy) that has a B for Value and C for Growth. This brewer has seena dramatic lift in price and market share following a marketing disaster at Budweiser. The news of late is that TAP is looking to spend more on marketing in an effort to keep and grow its customer base. Let’s explore more about this company in this Bull of The Day article.
Description
Molson Coors Beverage Co. is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific. The company was founded in 1786 and is headquartered in Golden, CO.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
For Molson Coors, I see four beats of the Zacks Consensus Estimate over the last year. The average positive earnings surprise over the last year works out to be a positive 37.2%.
Earnings Estimates Revisions
Earnings estimates revisions is what the Zacks Rank is all about.
Following the most recent quarter estimates have trended higher.
The consensus estimate for the current quarter has increased from 68 cents to 71 cents.
Next quarter has seen the consensus move from $1.72 to $1.76.
The full fiscal year 2024 estimate has moved from $5.41 to $5.66
Next year has moved from $5.58 to $5.96.
Valuation
The forward PE multiple for TAP is just a hair below 11x and that is rather low considering the 6% topline growth that was posted in the most recent quarter. The price to book stands at 1x, which means the value oriented will be very interested in this stock as they tend to place more emphasis on that metric. The price to sales multiple comes out at just a little below 1x.