Wedbush Comments on Celsius Holdings, Inc.’s Q2 2024 Earnings (NASDAQ:CELH)

Celsius Holdings, Inc. (NASDAQ:CELH) – Wedbush lowered their Q2 2024 earnings estimates for shares of Celsius in a report issued on Tuesday, May 7th. Wedbush analyst G. Pascarelli now anticipates that the company will earn $0.25 per share for the quarter, down from their prior forecast of $0.26. Wedbush has a “Outperform” rating and a $100.00 price objective on the stock. The consensus estimate for Celsius’ current full-year earnings is $1.09 per share. Wedbush also issued estimates for Celsius’ Q3 2024 earnings at $0.29 EPS, Q4 2024 earnings at $0.23 EPS, FY2024 earnings at $1.04 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.38 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.26 EPS.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and set a $75.00 price objective on shares of Celsius in a report on Wednesday, March 27th. Roth Mkm boosted their target price on Celsius from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Maxim Group raised their price objective on shares of Celsius from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Bank of America cut shares of Celsius from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Friday, January 19th. Finally, Jefferies Financial Group increased their price target on Celsius from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.95.

Celsius Stock Performance

CELH opened at $82.07 on Thursday. The firm’s fifty day moving average is $81.43 and its two-hundred day moving average is $66.08. The firm has a market cap of $18.96 billion, a PE ratio of 106.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.93. Celsius has a twelve month low of $39.50 and a twelve month high of $99.62.

Celsius (NASDAQ:CELH) last issued its earnings results on Tuesday, May 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. The company had revenue of $355.70 million during the quarter, compared to analysts’ expectations of $390.37 million. Celsius had a net margin of 17.21% and a return on equity of 131.58%. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Moody National Bank Trust Division bought a new position in shares of Celsius during the 4th quarter worth approximately $917,000. Yousif Capital Management LLC boosted its stake in Celsius by 197.3% during the fourth quarter. Yousif Capital Management LLC now owns 54,329 shares of the company’s stock valued at $2,962,000 after buying an additional 36,057 shares during the period. Kercheville Advisors LLC bought a new position in shares of Celsius in the fourth quarter worth approximately $851,000. Qube Research & Technologies Ltd increased its holdings in shares of Celsius by 761.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 190,048 shares of the company’s stock worth $32,612,000 after buying an additional 167,977 shares during the last quarter. Finally, Arizona State Retirement System raised its position in Celsius by 190.0% during the fourth quarter. Arizona State Retirement System now owns 41,209 shares of the company’s stock valued at $2,247,000 after purchasing an additional 26,998 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Celsius news, Director Nicholas Castaldo sold 165,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $83.33, for a total value of $13,749,450.00. Following the sale, the director now owns 352,864 shares in the company, valued at approximately $29,404,157.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Celsius news, Director Nicholas Castaldo sold 165,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $83.33, for a total value of $13,749,450.00. Following the transaction, the director now directly owns 352,864 shares of the company’s stock, valued at $29,404,157.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul H. Storey sold 1,833 shares of Celsius stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $75.43, for a total transaction of $138,263.19. Following the completion of the sale, the insider now directly owns 41,044 shares of the company’s stock, valued at $3,095,948.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,045,196 shares of company stock worth $131,499,404. Insiders own 2.20% of the company’s stock.

Celsius Company Profile

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.