Monster Beverage Corp’s “Neutral” Rating Reaffirmed at Zacks (MNST)
Monster Beverage Corp (NASDAQ:MNST)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Tuesday. They currently have a $75.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 5.59% from the company’s current price.
Zacks’ analyst wrote, “Monster Beverage’s first-quarter 2014 adjusted earnings of $0.55 per share surpassed the Zacks Consensus Estimate by 12.2%. Earnings also increased 49.0% year over year driven by lower selling and marketing expenses and tax rates. Though net sales fell shy of the consensus mark, it increased 10.7% year over year on the back of a robust increase in sales of new products in the U.S. Margins also benefitted due to a decrease in cost of goods sold. However, new Monster Energy branded Zero Ultra, Ultra Red and Ultra Blue energy drinks continued to cannibalize sales of the existing brands. In addition, the company continued to face headwinds from currency and higher professional service cost related to litigations and regulatory issues, which hurt its margin. Taking all these factors into account, we prefer to remain on the sidelines at the current level.”
Monster Beverage Corp (NASDAQ:MNST) traded down 1.30% during mid-day trading on Tuesday, hitting $70.11. The stock had a trading volume of 400,196 shares. Monster Beverage Corp has a 1-year low of $51.15 and a 1-year high of $75.63. The stock has a 50-day moving average of $69.8 and a 200-day moving average of $68.92. The company has a market cap of $11.714 billion and a price-to-earnings ratio of 33.36.
Monster Beverage Corp (NASDAQ:MNST) last announced its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that Monster Beverage Corp will post $2.52 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MNST. Analysts at Wells Fargo & Co. initiated coverage on shares of Monster Beverage Corp in a research note on Thursday, June 19th. They set an “outperform” rating on the stock. Separately, analysts at BTIG Research initiated coverage on shares of Monster Beverage Corp in a research note on Wednesday, June 18th. They set a “buy” rating and a $90.00 price target on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $76.10.
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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