Monster Beverage Corp Earnings Estimates Lowered at Stifel Nicolaus (MNST)
A number of other firms have also recently commented on MNST. Analysts at Goldman Sachs reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Monster Beverage Corp in a research note on Wednesday, May 14th. They now have a $74.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Monster Beverage Corp in a research note on Friday, May 9th. They now have a $82.00 price target on the stock, down previously from $85.00. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.29.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded down 3.28% during mid-day trading on Tuesday, hitting $66.74. 3,499,002 shares of the company’s stock traded hands. Monster Beverage Corp has a one year low of $51.15 and a one year high of $75.63. The stock’s 50-day moving average is $67. and its 200-day moving average is $67.53. The company has a market cap of $11.151 billion and a P/E ratio of 32.41. Monster Beverage Corp also was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 2,696,332 shares, a growth of 39.9% from the April 30th total of 1,927,289 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 1,331,895 shares, the days-to-cover ratio is presently 2.0 days.
Monster Beverage Corp (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.06. The company had revenue of $536.10 million for the quarter, compared to the consensus estimate of $542.30 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that Monster Beverage Corp will post $2.52 earnings per share for the current fiscal year.
Monster Beverage Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage, such as non-carbonated ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks, and single-serve still water (NASDAQ:MNST) with beverages, including sodas that are considered natural, sparkling juices and flavored sparkling beverages.
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