Monster Beverage (NASDAQ:MNST) posted its earnings results on Thursday. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01, Briefing.com reports. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS.
NASDAQ:MNST traded up $1.52 during midday trading on Friday, hitting $58.16. The stock had a trading volume of 6,600,300 shares, compared to its average volume of 3,454,498. The company has a market capitalization of $30.77 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.95 and a beta of 1.17. The stock has a 50-day moving average of $56.72 and a 200 day moving average of $60.34. Monster Beverage has a one year low of $47.74 and a one year high of $66.38.
A number of research firms have commented on MNST. Credit Suisse Group reissued an “outperform” rating and issued a $77.00 target price on shares of Monster Beverage in a report on Wednesday, August 28th. Royal Bank of Canada set a $75.00 target price on Monster Beverage and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group reissued a “sell” rating and issued a $52.00 target price (down previously from $53.00) on shares of Monster Beverage in a report on Thursday, August 8th. Cowen lowered Monster Beverage from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $69.00 to $65.00 in a report on Thursday, October 17th. Finally, Wells Fargo & Co reduced their target price on Monster Beverage from $59.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. Monster Beverage presently has an average rating of “Hold” and an average target price of $64.93.
About Monster Beverage
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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