Molson Coors Brewing Company TAP was a big mover last session, as the company saw its shares rise almost 10% on the day. The upside came after Anheuser-Busch InBev NV BUD agreed to take over SABMiller PLC. This would give Molson Coors a chance to buy SABMiller’s stake in their joint venture at a reasonable rate. The development led to more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $69.09 to $84.38 in the past one month.
The company has seen 1 negative estimate revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher can last.
Molson Coors currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
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