Monster Beverage (NASDAQ:MNST) released its earnings results on Thursday. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01, Briefing.com reports. Monster Beverage had a net margin of 26.58% and a return on equity of 28.10%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted $0.48 EPS. The business’s revenue was up 11.6% on a year-over-year basis.
Monster Beverage stock traded up $1.52 during trading on Friday, hitting $58.16. The company had a trading volume of 6,600,300 shares, compared to its average volume of 3,454,498. The company’s 50 day simple moving average is $56.72 and its 200-day simple moving average is $60.34. The stock has a market cap of $30.77 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17. Monster Beverage has a 1-year low of $47.74 and a 1-year high of $66.38.
A number of research firms have weighed in on MNST. Wells Fargo & Co decreased their target price on shares of Monster Beverage from $59.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada set a $75.00 price target on shares of Monster Beverage and gave the company a “buy” rating in a research report on Monday, September 30th. Credit Suisse Group reaffirmed an “outperform” rating and set a $77.00 price target on shares of Monster Beverage in a research report on Wednesday, August 28th. Jefferies Financial Group lifted their price target on shares of Monster Beverage from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Finally, Guggenheim lowered shares of Monster Beverage from a “buy” rating to a “neutral” rating and reduced their price target for the company from $74.00 to $60.00 in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.93.
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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