Monster Beverage Corp’s “Buy” Rating Reaffirmed at S&P Equity Research (MNST)
Monster Beverage Corp (NASDAQ:MNST)‘s stock had its “buy” rating reaffirmed by stock analysts at S&P Equity Research in a report issued on Monday. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on MNST. 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. Separately, 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. Finally, 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. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $86.00.
Shares of Monster Beverage Corp (NASDAQ:MNST) traded down 3.90% during mid-day trading on Monday, hitting $89.84. 4,140,254 shares of the company’s stock traded hands. Monster Beverage Corp has a 1-year low of $51.15 and a 1-year high of $94.93. The stock has a 50-day moving average of $68.6 and a 200-day moving average of $69.19. The company has a market cap of $15.019 billion and a price-to-earnings ratio of 40.12.
Monster Beverage Corp (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) 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 $2.58 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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