Monster Beverage Corp Sees Unusually High Options Volume (MNST)
Monster Beverage Corp (NASDAQ:MNST) was the recipient of unusually large options trading activity on Monday. Traders acquired 3,428 put options on the company, Analyst Ratings News reports. This is an increase of approximately 142% compared to the typical volume of 1,417 put options.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday. Separately, analysts at S&P Equity Research reiterated a “buy” rating on shares of Monster Beverage Corp in a research note on Monday. They noted that the move was a valuation call. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Monster Beverage Corp in a research note on Monday. They now have a $93.00 price target on the stock, up previously from $71.00. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Monster Beverage Corp presently has an average rating of “Buy” and an average price target of $86.00.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded down 5.40% on Monday, hitting $88.44. The stock had a trading volume of 6,824,434 shares. Monster Beverage Corp has a 52 week low of $51.15 and a 52 week 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 $14.785 billion and a P/E ratio of 40.12.
Monster Beverage Corp (NASDAQ:MNST) last announced its 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. On average, analysts predict that Monster Beverage Corp will post $2.58 earnings per share 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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