Monster Beverage (MNST) Now Covered by Deutsche Bank
Research analysts at Deutsche Bank started coverage on shares of Monster Beverage (NASDAQ:MNST) in a research report issued on Wednesday, The Fly reports. The firm set a “hold” rating on the stock.
Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and issued a $57.00 price objective on shares of Monster Beverage in a research note on Saturday, September 23rd. Credit Suisse Group cut Monster Beverage to a “hold” rating in a research note on Friday, September 8th. Jefferies Group reiterated a “buy” rating and issued a $64.00 price objective on shares of Monster Beverage in a research note on Thursday, November 9th. Cowen restated an “outperform” rating and set a $67.00 target price (up previously from $58.00) on shares of Monster Beverage in a research note on Thursday, November 9th. Finally, Citigroup cut Monster Beverage to a “neutral” rating and decreased their target price for the stock from $56.00 to $51.00 in a research note on Monday, November 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $59.24.
Monster Beverage (NASDAQ:MNST) traded up $0.60 during midday trading on Wednesday, reaching $63.51. The company’s stock had a trading volume of 1,675,701 shares, compared to its average volume of 2,199,347. The firm has a market cap of $35,495.85, a P/E ratio of 42.82, a P/E/G ratio of 2.24 and a beta of 0.94. Monster Beverage has a 52 week low of $41.02 and a 52 week high of $63.62.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $909.50 million during the quarter, compared to analysts’ expectations of $903.82 million. Monster Beverage had a return on equity of 23.45% and a net margin of 23.92%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. equities analysts forecast that Monster Beverage will post 1.48 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Liberty Capital Management Inc. grew its holdings in Monster Beverage by 2,028.0% during the third quarter. Liberty Capital Management Inc. now owns 2,128 shares of the company’s stock worth $120,000 after acquiring an additional 2,028 shares during the period. Commonwealth Bank of Australia grew its holdings in Monster Beverage by 11.0% during the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock worth $116,000 after acquiring an additional 232 shares during the period. Bessemer Group Inc. grew its holdings in Monster Beverage by 397.6% during the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock worth $148,000 after acquiring an additional 2,143 shares during the period. Sun Life Financial INC grew its holdings in Monster Beverage by 29,250.0% during the second quarter. Sun Life Financial INC now owns 2,935 shares of the company’s stock worth $146,000 after acquiring an additional 2,925 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in Monster Beverage during the third quarter worth $169,000. Institutional investors own 65.88% of the company’s stock.
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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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