Monster Beverage Corp PT Raised to $84.00 at RBC Capital (MNST)
Research analysts at RBC Capital lifted their price objective on shares of Monster Beverage Corp (NASDAQ:MNST) from $81.00 to $84.00 in a report released on Friday. The firm currently has a “top pick” rating on the stock. RBC Capital’s target price indicates a potential upside of 29.03% from the company’s current price.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded up 6.70% on Friday, hitting $69.46. 457,673 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 $68.27 and its 200-day moving average is $68.95. The company has a market cap of $11.605 billion and a P/E ratio of 30.58.
Monster Beverage Corp (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.06. The company had revenue of $687.20 million for the quarter, compared to the consensus estimate of $694.22 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Monster Beverage Corp will post $2.50 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MNST. Analysts at Longbow Research upgraded shares of Monster Beverage Corp from an “underperform” rating to a “neutral” rating in a research note on Friday. Separately, analysts at Credit Agricole downgraded shares of Monster Beverage Corp from an “outperform” rating to an “underperform” rating in a research note on Wednesday. They now have a $70.00 price target on the stock, down previously from $86.00. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $77.50.
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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