Monster Beverage Co. (NASDAQ:MNST) Expected to Earn FY2024 Earnings of $1.78 Per Share

Monster Beverage Co. (NASDAQ:MNST) – Research analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for shares of Monster Beverage in a research note issued to investors on Monday, May 6th. Wedbush analyst G. Pascarelli now expects that the company will post earnings of $1.78 per share for the year, down from their prior forecast of $1.83. The consensus estimate for Monster Beverage’s current full-year earnings is $1.79 per share.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 11.8% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on the stock. UBS Group reduced their price objective on shares of Monster Beverage from $61.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Redburn Atlantic started coverage on Monster Beverage in a research note on Wednesday, March 6th. They set a “buy” rating for the company. BMO Capital Markets lowered their price objective on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Jefferies Financial Group raised their target price on Monster Beverage from $66.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, HSBC decreased their price target on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage presently has an average rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Trading Down 0.7 %

NASDAQ MNST opened at $54.30 on Thursday. The company has a fifty day simple moving average of $56.78 and a 200 day simple moving average of $55.92. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22. The company has a market cap of $56.57 billion, a P/E ratio of 34.15, a PEG ratio of 2.27 and a beta of 0.74.

Institutional Investors Weigh In On Monster Beverage

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Monster Beverage in the fourth quarter valued at $517,035,000. Wellington Management Group LLP grew its holdings in Monster Beverage by 20.3% during the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock valued at $1,033,323,000 after buying an additional 3,296,466 shares in the last quarter. Capital Research Global Investors increased its position in shares of Monster Beverage by 40.6% during the fourth quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after buying an additional 3,026,657 shares during the period. TD Asset Management Inc lifted its holdings in shares of Monster Beverage by 143.8% in the fourth quarter. TD Asset Management Inc now owns 3,209,873 shares of the company’s stock worth $184,921,000 after buying an additional 1,893,064 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Monster Beverage by 61.5% in the third quarter. William Blair Investment Management LLC now owns 3,431,785 shares of the company’s stock valued at $181,713,000 after acquiring an additional 1,307,482 shares during the period. 72.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Monster Beverage

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the transaction, the director now directly owns 777,840 shares of the company’s stock, valued at $45,542,532. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.40% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.