Citigroup Inc. Reiterates “Neutral” Rating for Monster Beverage Corp (MNST)
Monster Beverage Corp (NASDAQ:MNST)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Citigroup Inc. in a research note issued to investors on Monday. They currently have a $93.00 price target on the stock, up from their previous price target of $71.00. Citigroup Inc.’s price objective would indicate a potential downside of 0.52% from the company’s current price.
MNST has been the subject of a number of other recent research reports. Analysts at Credit Suisse downgraded shares of Monster Beverage Corp from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $98.00 price target on the stock, up previously from $82.00. Separately, analysts at Jefferies Group downgraded shares of Monster Beverage Corp from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $95.00 price target on the stock, up previously from $80.00. They noted that the move was a valuation call. Finally, analysts at BMO Capital Markets raised their price target on shares of Monster Beverage Corp to $95.00 in a research note on Friday. They now have an “outperform” rating on the stock. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Monster Beverage Corp currently has an average rating of “Buy” and a consensus target price of $86.00.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded down 3.87% during mid-day trading on Monday, hitting $89.8693. The stock had a trading volume of 4,146,854 shares. Monster Beverage Corp has a one year low of $51.15 and a one year high of $94.93. The stock’s 50-day moving average is $68.6 and its 200-day moving average is $69.19. The company has a market cap of $15.024 billion and a P/E ratio of 40.12.
Monster Beverage Corp (NASDAQ:MNST) last released its earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Monster Beverage Corp will post $2.58 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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