SunTrust Downgrades Monster Beverage Corp to Neutral (MNST)
Monster Beverage Corp (NASDAQ:MNST) was downgraded by stock analysts at SunTrust from a “buy” rating to a “neutral” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.
Shares of Monster Beverage Corp (NASDAQ:MNST) opened at 88.44 on Tuesday. Monster Beverage Corp has a 1-year low of $51.15 and a 1-year high of $94.93. The stock’s 50-day moving average is $69.20 and its 200-day moving average is $69.35. The company has a market cap of $14.785 billion and a P/E ratio of 40.12. Monster Beverage Corp also was the recipient of unusually large options trading activity on Monday. Traders purchased 3,428 put options on the stock. This is an increase of approximately 142% compared to the typical volume of 1,417 put options.
Monster Beverage Corp (NASDAQ:MNST) last released its earnings data 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 $2.58 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about 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. Seven investment 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 company. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.00.
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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