Zacks: Brokerages Anticipate Monster Beverage Corp (MNST) Will Post Earnings of $0.46 Per Share

Wall Street brokerages expect Monster Beverage Corp (NASDAQ:MNST) to announce earnings of $0.46 per share for the current quarter, according to Zacks. Six analysts have made estimates for Monster Beverage’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.47. Monster Beverage posted earnings of $0.40 per share during the same quarter last year, which indicates a positive year over year growth rate of 15%. The business is scheduled to issue its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Monster Beverage will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.71 to $1.76. For the next year, analysts expect that the business will post earnings of $1.97 per share, with EPS estimates ranging from $1.89 to $2.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Monster Beverage.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Monster Beverage had a net margin of 25.27% and a return on equity of 24.39%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. Monster Beverage’s quarterly revenue was up 12.0% compared to the same quarter last year.

A number of equities analysts have commented on MNST shares. ValuEngine downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Guggenheim started coverage on shares of Monster Beverage in a research note on Thursday, September 13th. They set a “buy” rating and a $72.00 target price on the stock. BidaskClub downgraded shares of Monster Beverage from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. Stifel Nicolaus lifted their target price on shares of Monster Beverage from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Finally, BMO Capital Markets lifted their target price on shares of Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.69.

In other news, insider Emelie Tirre sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $60.91, for a total value of $1,035,470.00. Following the sale, the insider now directly owns 46,847 shares of the company’s stock, valued at approximately $2,853,450.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Monster Beverage by 2.6% during the 2nd quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock worth $1,365,558,000 after buying an additional 604,939 shares during the period. Voya Investment Management LLC increased its stake in Monster Beverage by 24.4% during the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after buying an additional 1,071,066 shares during the period. Northern Trust Corp increased its stake in Monster Beverage by 2.5% during the 2nd quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after buying an additional 121,766 shares during the period. American Century Companies Inc. increased its stake in Monster Beverage by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after buying an additional 423,841 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Monster Beverage by 414.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock worth $245,188,000 after buying an additional 3,447,585 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

MNST stock traded down $0.47 during trading on Wednesday, reaching $52.63. 228,667 shares of the stock were exchanged, compared to its average volume of 3,004,705. Monster Beverage has a 1 year low of $47.61 and a 1 year high of $70.21. The company has a market capitalization of $32.20 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.11 and a beta of 1.36.

Monster Beverage announced that its board has initiated a share repurchase plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its 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 drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes 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; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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