Jefferies Group Initiates Coverage on Monster Beverage Corp (MNST)
Research analysts at Jefferies Group initiated coverage on shares of Monster Beverage Corp (NASDAQ:MNST) in a report released on Monday. The firm set a “buy” rating and a $82.00 price target on the stock. Jefferies Group’s price objective indicates a potential upside of 20.09% from the company’s current price.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded up 0.01% on Monday, hitting $68.28. The stock had a trading volume of 794,641 shares. 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 $68.07 and its 200-day moving average is $67.61. The company has a market cap of $11.408 billion and a price-to-earnings ratio of 32.07.
Monster Beverage Corp (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.37 earnings per share. Monster Beverage Corp’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that Monster Beverage Corp will post $2.52 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse initiated coverage on shares of Monster Beverage Corp in a research note on Wednesday, June 4th. They set an “outperform” rating and a $82.00 price target on the stock. Separately, analysts at Stifel Nicolaus cut their EPS estimates on shares of Monster Beverage Corp in a research note on Tuesday. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Monster Beverage Corp has a consensus rating of “Buy” and an average target price of $74.44.
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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