Wells Fargo & Co. Initiates Coverage on Monster Beverage Corp (MNST)
Analysts at Wells Fargo & Co. began coverage on shares of Monster Beverage Corp (NASDAQ:MNST) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at BTIG Research initiated coverage on shares of Monster Beverage Corp in a research note on Wednesday. They set a “buy” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Monster Beverage Corp in a research note on Monday, June 9th. They set a “buy” rating and a $82.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $74.44.
Monster Beverage Corp (NASDAQ:MNST) opened at 71.38 on Thursday. Monster Beverage Corp has a one year low of $51.15 and a one year high of $75.63. The stock has a 50-day moving average of $68.70 and a 200-day moving average of $68.39. The company has a market cap of $11.926 billion and a P/E ratio of 32.99.
Monster Beverage Corp (NASDAQ:MNST) last announced its earnings results 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.
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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