Wedbush Weighs in on Celsius Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:CELH)

Celsius Holdings, Inc. (NASDAQ:CELH) – Analysts at Wedbush reduced their Q2 2024 EPS estimates for Celsius in a note issued to investors on Tuesday, May 7th. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings of $0.25 per share for the quarter, down from their previous estimate of $0.26. Wedbush currently has a “Outperform” rating and a $100.00 target price on the stock. The consensus estimate for Celsius’ current full-year earnings is $1.09 per share. Wedbush also issued estimates for Celsius’ Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $1.04 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.26 EPS.

Celsius (NASDAQ:CELH) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. The firm had revenue of $355.70 million for the quarter, compared to analyst estimates of $390.37 million. Celsius had a net margin of 17.21% and a return on equity of 131.58%. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share.

Several other research firms have also issued reports on CELH. Piper Sandler increased their target price on shares of Celsius from $76.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. UBS Group dropped their target price on shares of Celsius from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley reiterated an “equal weight” rating and set a $75.00 price objective on shares of Celsius in a research report on Wednesday, March 27th. Bank of America downgraded shares of Celsius from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Friday, January 19th. Finally, Jefferies Financial Group upped their price target on Celsius from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.95.

Celsius Trading Up 6.4 %

Shares of NASDAQ:CELH opened at $82.07 on Thursday. The business has a 50 day moving average of $81.43 and a two-hundred day moving average of $66.08. Celsius has a 12-month low of $39.50 and a 12-month high of $99.62. The company has a market capitalization of $18.96 billion, a PE ratio of 106.58, a PEG ratio of 2.22 and a beta of 1.93.

Insiders Place Their Bets

In other Celsius news, Director Caroline S. Levy sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $94.77, for a total value of $1,895,400.00. Following the sale, the director now directly owns 37,891 shares of the company’s stock, valued at approximately $3,590,930.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Caroline S. Levy sold 20,000 shares of Celsius stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $94.77, for a total transaction of $1,895,400.00. Following the sale, the director now directly owns 37,891 shares in the company, valued at approximately $3,590,930.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jarrod Langhans sold 4,079 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $69.42, for a total value of $283,164.18. Following the completion of the sale, the chief financial officer now directly owns 83,670 shares of the company’s stock, valued at $5,808,371.40. The disclosure for this sale can be found here. Insiders have sold a total of 2,045,196 shares of company stock worth $131,499,404 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Trading of Celsius

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC grew its position in Celsius by 1,350.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 145 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Heritage Wealth Advisors acquired a new stake in shares of Celsius during the third quarter worth $32,000. Harvest Fund Management Co. Ltd purchased a new stake in Celsius in the 3rd quarter valued at about $36,000. FinTrust Capital Advisors LLC purchased a new stake in Celsius in the first quarter valued at approximately $25,000. Finally, Signaturefd LLC increased its holdings in shares of Celsius by 212.0% during the 3rd quarter. Signaturefd LLC now owns 337 shares of the company’s stock worth $58,000 after buying an additional 229 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Celsius Company Profile

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.