Monster Beverage Corp Given Average Recommendation of “Buy” by Analysts (NASDAQ:MNST)
Shares of Monster Beverage Corp (NASDAQ:MNST) have earned an average rating of “Buy” from the fourteen analysts that are currently covering the company, AmericanBankingNews.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $76.10.
A number of analysts have recently weighed in on MNST shares. Analysts at Zacks reiterated a “neutral” rating on shares of Monster Beverage Corp in a research note on Tuesday, July 1st. They now have a $75.00 price target on the stock. Separately, 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. Finally, 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.
Monster Beverage Corp (NASDAQ:MNST) opened at 71.00 on Tuesday. 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 $69.87 and a 200-day moving average of $69.25. The company has a market cap of $11.862 billion and a price-to-earnings ratio of 33.28.
Monster Beverage Corp (NASDAQ:MNST) last posted its quarterly earnings results 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. Analysts expect that Monster Beverage Corp will post $2.52 EPS 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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