Monster Beverage Corporation (MNST) Receives Average Rating of “Buy” from Brokerages
Shares of Monster Beverage Corporation (NASDAQ:MNST) have received an average recommendation of “Buy” from the seventeen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $59.35.
A number of research analysts have weighed in on the stock. UBS cut shares of Monster Beverage to a “neutral” rating in a research note on Monday, November 20th. Susquehanna Bancshares set a $51.00 target price on shares of Monster Beverage and gave the company a “sell” rating in a research note on Monday, November 20th. Citigroup cut shares of Monster Beverage to a “neutral” rating and dropped their target price for the company from $56.00 to $51.00 in a research note on Monday, November 20th. They noted that the move was a valuation call. Jefferies Group boosted their target price on shares of Monster Beverage from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $69.00 target price (up from $62.00) on shares of Monster Beverage in a research note on Monday, November 20th.
Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its stake in Monster Beverage by 64.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 7,712 shares of the company’s stock worth $383,000 after purchasing an additional 3,035 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Monster Beverage by 40.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,550 shares of the company’s stock worth $971,000 after purchasing an additional 5,600 shares in the last quarter. IFP Advisors Inc lifted its stake in Monster Beverage by 0.5% in the 2nd quarter. IFP Advisors Inc now owns 12,691 shares of the company’s stock worth $630,000 after purchasing an additional 66 shares in the last quarter. Advisor Partners LLC lifted its stake in Monster Beverage by 1.1% in the 2nd quarter. Advisor Partners LLC now owns 7,898 shares of the company’s stock worth $392,000 after purchasing an additional 87 shares in the last quarter. Finally, HL Financial Services LLC lifted its stake in Monster Beverage by 8.2% in the 2nd quarter. HL Financial Services LLC now owns 6,780 shares of the company’s stock worth $337,000 after purchasing an additional 514 shares in the last quarter. Institutional investors own 65.88% of the company’s stock.
Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, November 8th. The company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. The firm had revenue of $909.50 million for the quarter, compared to analysts’ expectations of $903.82 million. Monster Beverage had a net margin of 23.92% and a return on equity of 23.45%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. equities research analysts expect that Monster Beverage will post 1.48 EPS for the current year.
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Monster Beverage Company Profile
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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