Jefferies Group Equities Analysts Decrease Earnings Estimates for Monster Beverage Corporation (MNST)
Monster Beverage Corporation (NASDAQ:MNST) – Equities researchers at Jefferies Group cut their FY2017 EPS estimates for shares of Monster Beverage Corporation in a research note issued to investors on Tuesday. Jefferies Group analyst K. Grundy now forecasts that the company will earn $1.51 per share for the year, down from their prior forecast of $1.53. Jefferies Group currently has a “Buy” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Monster Beverage Corporation’s FY2019 earnings at $2.04 EPS.
A number of other equities research analysts have also recently issued reports on MNST. Credit Suisse Group set a $59.00 target price on shares of Monster Beverage Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. UBS AG set a $59.00 target price on shares of Monster Beverage Corporation and gave the company a “buy” rating in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a “buy” rating and issued a $57.00 target price on shares of Monster Beverage Corporation in a research report on Wednesday. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $42.00 target price (down previously from $45.00) on shares of Monster Beverage Corporation in a research report on Monday. Finally, BidaskClub cut shares of Monster Beverage Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.28.
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Monster Beverage Corporation (NASDAQ:MNST) opened at 52.03 on Thursday. Monster Beverage Corporation has a 12-month low of $40.64 and a 12-month high of $54.24. The company has a market capitalization of $29.54 billion, a P/E ratio of 41.89 and a beta of 0.96. The stock’s 50 day moving average is $51.72 and its 200-day moving average is $47.71.
Monster Beverage Corporation (NASDAQ:MNST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $907.07 million for the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a return on equity of 23.56% and a net margin of 23.98%. Monster Beverage Corporation’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank boosted its position in Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock worth $106,000 after buying an additional 633 shares during the period. Coconut Grove Bank boosted its position in Monster Beverage Corporation by 128.0% in the first quarter. Coconut Grove Bank now owns 2,565 shares of the company’s stock worth $118,000 after buying an additional 1,440 shares during the period. Assetmark Inc. boosted its position in Monster Beverage Corporation by 7.7% in the first quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock worth $201,000 after buying an additional 311 shares during the period. Dynamic Advisors Solutions LLC bought a new position in Monster Beverage Corporation during the second quarter worth approximately $202,000. Finally, Fiduciary Trust Co. bought a new position in Monster Beverage Corporation during the second quarter worth approximately $212,000. 65.91% of the stock is owned by hedge funds and other institutional investors.
About Monster Beverage Corporation
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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