Research Analysts Set Expectations for Monster Beverage Co.’s Q2 2024 Earnings (NASDAQ:MNST)

Monster Beverage Co. (NASDAQ:MNST) – Stock analysts at Wedbush decreased their Q2 2024 earnings estimates for Monster Beverage in a report released on Monday, May 6th. Wedbush analyst G. Pascarelli now forecasts that the company will earn $0.46 per share for the quarter, down from their prior estimate of $0.47. The consensus estimate for Monster Beverage’s current full-year earnings is $1.79 per share. Wedbush also issued estimates for Monster Beverage’s Q4 2024 earnings at $0.44 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.49 EPS and FY2025 earnings at $2.05 EPS.

MNST has been the subject of several other reports. Stifel Nicolaus reduced their price objective on Monster Beverage from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Redburn Atlantic assumed coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They issued a “buy” rating for the company. Royal Bank of Canada upped their price objective on shares of Monster Beverage from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and decreased their target price for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. Finally, HSBC dropped their price target on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Price Performance

Shares of Monster Beverage stock opened at $54.30 on Wednesday. The business has a 50 day simple moving average of $56.78 and a two-hundred day simple moving average of $55.92. The stock has a market capitalization of $56.57 billion, a P/E ratio of 34.15, a PEG ratio of 2.27 and a beta of 0.74. Monster Beverage has a 12 month low of $47.13 and a 12 month high of $61.22.

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

Institutional Trading of Monster Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Peoples Bank KS purchased a new stake in Monster Beverage during the 3rd quarter worth approximately $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of Monster Beverage during the fourth quarter worth $27,000. Headinvest LLC acquired a new stake in shares of Monster Beverage in the third quarter valued at $28,000. Tortoise Investment Management LLC boosted its holdings in Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Monster Beverage during the 3rd quarter worth $31,000. 72.36% of the stock is currently 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 business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now 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 can be accessed through the SEC website. Company 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.