Monster Beverage Corp Upgraded by Longbow Research to Neutral (MNST)
Shares of Monster Beverage Corp (NASDAQ:MNST) opened at 65.10 on Friday. Monster Beverage Corp has a 52-week low of $51.15 and a 52-week high of $75.63. The stock has a 50-day moving average of $68.27 and a 200-day moving average of $68.95. The company has a market cap of $10.877 billion and a price-to-earnings ratio of 31.02.
Monster Beverage Corp (NASDAQ:MNST) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.62 earnings per share. Monster Beverage Corp’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that Monster Beverage Corp will post $2.50 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MNST. 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. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.13.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.