Monster Beverage Corp Stock Rating Reaffirmed by Goldman Sachs (MNST)
Monster Beverage Corp (NASDAQ:MNST) traded up 0.41% during mid-day trading on Monday, hitting $65.48. 228,212 shares of the company’s stock traded hands. Monster Beverage Corp has a 52-week low of $51.15 and a 52-week high of $75.63. The stock’s 50-day moving average is $68.73 and its 200-day moving average is $69.06. The company has a market cap of $10.940 billion and a P/E ratio of 30.63.
Monster Beverage Corp (NASDAQ:MNST) last announced its 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. On average, analysts predict that Monster Beverage Corp will post $2.51 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley downgraded shares of Monster Beverage Corp from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 21st. They noted that the move was a valuation call. Separately, analysts at Stifel Nicolaus cut their price target on shares of Monster Beverage Corp from $78.00 to $75.00 in a research note on Wednesday, July 16th. They now have a “buy” rating on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $75.44.
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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