Zacks Investment Research cut shares of Monster Beverage (NASDAQ:MNST) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Monster Beverage surpassed the industry in the past six months, driven by solid momentum in energy drinks business amid a challenging industry backdrop. The company is also optimistic about its alliance with Coca-Cola’s bottlers globally, which broadened its distribution network. Moreover, the company’s top and bottom lines outpaced estimates and improved year over year in third-quarter 2018. This marked its second straight earnings beat, while sales reverted to positive surprise trend after three consecutive misses. The top line benefited from solid sales at Monster Energy Drinks segment and advance purchases made by customers due to a pre-announced price hike. However, sales were adversely impacted by foreign currency translations. Moreover, increased raw material costs are persistently hurting margins, which is likely to continue in quarters ahead.”
Several other research firms also recently weighed in on MNST. Jefferies Financial Group boosted their target price on shares of Monster Beverage from $70.00 to $71.00 and gave the stock a buy rating in a research report on Thursday, August 9th. BidaskClub raised shares of Monster Beverage from a hold rating to a buy rating in a research report on Friday, August 17th. ValuEngine downgraded shares of Monster Beverage from a buy rating to a hold rating in a research report on Thursday, August 23rd. Citigroup boosted their target price on shares of Monster Beverage from $62.00 to $71.00 and gave the stock a buy rating in a research report on Friday, August 10th. Finally, Stifel Nicolaus boosted their target price on shares of Monster Beverage from $65.00 to $66.00 and gave the stock a buy rating in a research report on Tuesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Monster Beverage presently has a consensus rating of Buy and a consensus target price of $63.38.
Monster Beverage stock opened at $57.41 on Wednesday. Monster Beverage has a 12-month low of $47.61 and a 12-month high of $70.21. The firm has a market cap of $32.22 billion, a P/E ratio of 39.32, a PEG ratio of 2.06 and a beta of 1.39.
Monster Beverage (NASDAQ:MNST) last released its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $988.73 million. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, analysts expect that Monster Beverage will post 1.77 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Laurel Wealth Advisors Inc. boosted its holdings in shares of Monster Beverage by 14.5% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 6,594 shares of the company’s stock valued at $377,000 after buying an additional 836 shares during the period. Lido Advisors LLC acquired a new position in shares of Monster Beverage in the 2nd quarter valued at about $202,000. Bank of Montreal Can boosted its holdings in shares of Monster Beverage by 87.3% in the 3rd quarter. Bank of Montreal Can now owns 312,899 shares of the company’s stock valued at $18,236,000 after buying an additional 145,812 shares during the period. Dock Street Asset Management Inc. boosted its holdings in shares of Monster Beverage by 1.1% in the 3rd quarter. Dock Street Asset Management Inc. now owns 108,135 shares of the company’s stock valued at $6,302,000 after buying an additional 1,197 shares during the period. Finally, IFM Investors Pty Ltd boosted its holdings in shares of Monster Beverage by 15.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 21,702 shares of the company’s stock valued at $1,265,000 after buying an additional 2,949 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Company Profile
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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