$0.46 EPS Expected for Monster Beverage Corp (MNST) This Quarter
Brokerages expect Monster Beverage Corp (NASDAQ:MNST) to announce earnings of $0.46 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Monster Beverage’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.44. Monster Beverage reported earnings of $0.40 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15%. The firm is expected to issue its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Monster Beverage will report full year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.71 to $1.76. For the next fiscal year, analysts forecast that the firm will report earnings of $1.97 per share, with EPS estimates ranging from $1.86 to $2.04. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Monster Beverage.
Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 8th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. Monster Beverage’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share.
In other Monster Beverage news, insider Emelie Tirre sold 17,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the transaction, the insider now directly owns 46,847 shares in the company, valued at $2,853,450.77. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Laurel Wealth Advisors Inc. raised its holdings in Monster Beverage by 14.5% during the second 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 in the last quarter. Lido Advisors LLC bought a new position in Monster Beverage during the second quarter valued at about $202,000. Trexquant Investment LP raised its holdings in Monster Beverage by 65.4% during the second quarter. Trexquant Investment LP now owns 12,225 shares of the company’s stock valued at $700,000 after buying an additional 4,835 shares in the last quarter. BlackRock Inc. raised its holdings in Monster Beverage by 2.6% during the second quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock valued at $1,365,558,000 after buying an additional 604,939 shares in the last quarter. Finally, US Bancorp DE raised its holdings in Monster Beverage by 17.8% during the second quarter. US Bancorp DE now owns 59,670 shares of the company’s stock valued at $3,420,000 after buying an additional 9,031 shares in the last quarter. Institutional investors own 64.84% of the company’s stock.
Shares of Monster Beverage stock traded up $0.10 during midday trading on Wednesday, hitting $52.21. The company’s stock had a trading volume of 116,825 shares, compared to its average volume of 2,829,448. Monster Beverage has a 1-year low of $47.61 and a 1-year high of $70.21. The stock has a market cap of $28.79 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 1.88 and a beta of 1.36.
Monster Beverage declared that its board has authorized a stock buyback plan on Wednesday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
About Monster Beverage
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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