Q2 2024 EPS Estimates for Monster Beverage Co. Reduced by Analyst (NASDAQ:MNST)

Monster Beverage Co. (NASDAQ:MNST) – Equities research analysts at Wedbush reduced their Q2 2024 EPS estimates for shares of Monster Beverage in a research report issued on Monday, May 6th. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings of $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.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) 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 firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.90 billion. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share.

Several other equities analysts have also commented on MNST. Redburn Atlantic began coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a “buy” rating for the company. Royal Bank of Canada lifted their price target on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. HSBC reduced their price objective on Monster Beverage from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. BMO Capital Markets dropped their target price on Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Finally, Morgan Stanley decreased their price target on Monster Beverage from $68.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Stock Performance

NASDAQ MNST opened at $55.20 on Wednesday. The stock has a 50 day moving average price of $56.75 and a 200-day moving average price of $55.91. Monster Beverage has a one year low of $47.13 and a one year high of $61.22. The company has a market capitalization of $57.50 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.27 and a beta of 0.74.

Insider Transactions at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of Monster Beverage stock in a transaction 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 transaction, the director now directly owns 777,840 shares in the company, valued at approximately $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Monster Beverage

Hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in Monster Beverage by 34.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock valued at $1,421,000 after buying an additional 6,946 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Monster Beverage by 17.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,071 shares of the company’s stock valued at $586,000 after purchasing an additional 1,613 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Monster Beverage by 1.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 152,861 shares of the company’s stock valued at $8,094,000 after purchasing an additional 2,157 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Monster Beverage by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,308,114 shares of the company’s stock worth $69,265,000 after purchasing an additional 129,153 shares in the last quarter. Finally, NBT Bank N A NY purchased a new stake in Monster Beverage during the 3rd quarter worth approximately $235,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

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.