Monster Beverage (NASDAQ:MNST) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Monster Beverage (NASDAQ:MNST) announced its quarterly earnings results on Thursday. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01, reports. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Monster Beverage had a return on equity of 28.10% and a net margin of 26.58%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS.

MNST traded up $1.52 on Friday, hitting $58.16. The company had a trading volume of 6,600,300 shares, compared to its average volume of 3,454,498. The company’s fifty day moving average price is $56.72 and its 200 day moving average price is $60.34. Monster Beverage has a 1-year low of $47.74 and a 1-year high of $66.38. The stock has a market cap of $30.77 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17.

Several equities research analysts have recently issued reports on the company. Cowen lowered Monster Beverage from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $69.00 to $65.00 in a report on Thursday, October 17th. Zacks Investment Research upgraded Monster Beverage from a “sell” rating to a “hold” rating and set a $61.00 price target for the company in a report on Tuesday, October 1st. Jefferies Financial Group lifted their price target on Monster Beverage from $68.00 to $70.00 and gave the company a “buy” rating in a report on Friday. They noted that the move was a valuation call. Morgan Stanley boosted their target price on Monster Beverage from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, BMO Capital Markets reduced their target price on Monster Beverage from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $64.93.

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About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages and 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 energy drinks, carbonated energy drinks, non-carbonated dairy based coffee and energy drinks, non-carbonated energy shakes, and non-carbonated energy drinks 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.

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Earnings History for Monster Beverage (NASDAQ:MNST)

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