Equities research analysts forecast that Monster Beverage Corp (NASDAQ:MNST) will announce sales of $1.13 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Monster Beverage’s earnings. The highest sales estimate is $1.18 billion and the lowest is $1.10 billion. Monster Beverage reported sales of $1.02 billion in the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The business is scheduled to report its next quarterly earnings report on Wednesday, August 14th.
On average, analysts expect that Monster Beverage will report full year sales of $4.20 billion for the current fiscal year, with estimates ranging from $4.08 billion to $4.31 billion. For the next financial year, analysts anticipate that the company will report sales of $4.59 billion, with estimates ranging from $4.42 billion to $4.75 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Monster Beverage.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $946.00 million during the quarter, compared to analysts’ expectations of $919.49 million. Monster Beverage had a return on equity of 28.35% and a net margin of 26.61%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS.
Several brokerages recently weighed in on MNST. ValuEngine upgraded Monster Beverage from a “hold” rating to a “buy” rating in a report on Monday. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Credit Suisse Group set a $77.00 target price on Monster Beverage and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Macquarie set a $63.00 target price on Monster Beverage and gave the company a “hold” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.03.
In other Monster Beverage news, Director Harold C. Taber, Jr. sold 11,772 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.58, for a total transaction of $748,463.76. Following the completion of the transaction, the director now owns 72,240 shares of the company’s stock, valued at approximately $4,593,019.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Emelie Tirre sold 24,762 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $62.70, for a total value of $1,552,577.40. The disclosure for this sale can be found here. Insiders have sold a total of 481,356 shares of company stock valued at $29,678,733 in the last ninety days. 9.70% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Monster Beverage by 77.2% in the 4th quarter. Millennium Management LLC now owns 1,978,687 shares of the company’s stock worth $97,391,000 after acquiring an additional 861,752 shares in the last quarter. Norges Bank bought a new position in shares of Monster Beverage in the 4th quarter worth approximately $209,565,000. Kentucky Retirement Systems bought a new position in shares of Monster Beverage in the 4th quarter worth approximately $852,000. CIBC Asset Management Inc raised its position in shares of Monster Beverage by 1.7% in the 4th quarter. CIBC Asset Management Inc now owns 68,872 shares of the company’s stock worth $3,390,000 after acquiring an additional 1,158 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Monster Beverage by 3.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 141,875 shares of the company’s stock worth $6,983,000 after acquiring an additional 4,670 shares in the last quarter. 65.46% of the stock is owned by hedge funds and other institutional investors.
Shares of MNST stock opened at $63.07 on Thursday. The stock has a market cap of $34.28 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.11 and a beta of 1.53. Monster Beverage has a 1-year low of $47.61 and a 1-year high of $66.38.
Monster Beverage Company Profile
Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations.
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