Brokers Offer Predictions for Monster Beverage Co.’s FY2018 Earnings (MNST)
Monster Beverage Co. (NASDAQ:MNST) – Jefferies Group decreased their FY2018 earnings estimates for shares of Monster Beverage in a report issued on Wednesday. Jefferies Group analyst K. Grundy now expects that the company will post earnings per share of $1.81 for the year, down from their previous estimate of $1.97. Jefferies Group has a “Buy” rating and a $72.00 price objective on the stock. Jefferies Group also issued estimates for Monster Beverage’s FY2019 earnings at $2.10 EPS.
Monster Beverage (NASDAQ:MNST) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Monster Beverage had a return on equity of 22.54% and a net margin of 24.36%. The firm had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $841.25 million. During the same period last year, the firm posted $0.30 earnings per share. Monster Beverage’s revenue for the quarter was up 7.5% on a year-over-year basis.
Shares of Monster Beverage (NASDAQ:MNST) opened at $54.16 on Monday. Monster Beverage has a 1 year low of $44.35 and a 1 year high of $70.21. The firm has a market cap of $30,676.39, a price-to-earnings ratio of 37.87, a P/E/G ratio of 1.60 and a beta of 1.14.
Large investors have recently made changes to their positions in the company. Blue Sky Asset Management LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $123,000. Icon Wealth Partners LLC purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $166,000. Bessemer Group Inc. raised its holdings in shares of Monster Beverage by 397.6% in the third quarter. Bessemer Group Inc. now owns 2,682 shares of the company’s stock valued at $148,000 after buying an additional 2,143 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Monster Beverage in the fourth quarter valued at about $177,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Monster Beverage during the third quarter worth about $169,000. 65.26% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Rodney C. Sacks sold 189,861 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $63.92, for a total value of $12,135,915.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Hilton H. Schlosberg sold 13,983 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $64.53, for a total transaction of $902,322.99. Following the completion of the sale, the insider now directly owns 967,456 shares of the company’s stock, valued at $62,429,935.68. The disclosure for this sale can be found here. Insiders sold 268,026 shares of company stock valued at $17,179,867 over the last ninety days. Corporate insiders own 9.40% of the company’s stock.
Monster Beverage declared that its Board of Directors has initiated a share repurchase program on Thursday, March 1st that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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