BidaskClub upgraded shares of Monster Beverage (NASDAQ:MNST) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.
A number of other research analysts have also weighed in on the company. Stifel Nicolaus upped their price objective on Monster Beverage from $63.00 to $65.00 and gave the stock a buy rating in a report on Thursday, July 12th. ValuEngine raised Monster Beverage from a hold rating to a buy rating in a report on Wednesday, July 11th. Morgan Stanley upped their price objective on Monster Beverage from $61.00 to $63.00 and gave the stock a buy rating in a report on Monday, June 11th. Jefferies Financial Group upped their price objective on Monster Beverage from $62.00 to $63.00 and gave the stock a buy rating in a report on Friday, June 8th. Finally, Susquehanna Bancshares set a $42.00 price objective on Monster Beverage and gave the stock a sell rating in a report on Thursday, June 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $63.69.
Get Monster Beverage alerts:Monster Beverage opened at $62.17 on Tuesday, MarketBeat Ratings reports. The company has a market capitalization of $34.36 billion, a PE ratio of 42.58, a P/E/G ratio of 2.24 and a beta of 1.28. Monster Beverage has a 12-month low of $47.61 and a 12-month high of $70.21.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. Monster Beverage had a return on equity of 22.88% and a net margin of 24.69%. The firm had revenue of $850.92 million for the quarter, compared to analyst estimates of $845.88 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Monster Beverage’s quarterly revenue was up 14.7% on a year-over-year basis. sell-side analysts forecast that Monster Beverage will post 1.71 EPS for the current year.
Monster Beverage announced that its board has approved a share buyback program on Wednesday, May 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Central Bank & Trust Co. boosted its position in Monster Beverage by 3.0% during the second quarter. Central Bank & Trust Co. now owns 69,172 shares of the company’s stock worth $3,963,000 after purchasing an additional 1,992 shares in the last quarter. Calamos Wealth Management LLC purchased a new stake in Monster Beverage during the second quarter worth $1,404,000. Calamos Advisors LLC purchased a new stake in Monster Beverage during the second quarter worth $16,829,000. Gilbert & Cook Inc. purchased a new stake in Monster Beverage during the second quarter worth $221,000. Finally, Scout Investments Inc. boosted its position in Monster Beverage by 3.2% during the second quarter. Scout Investments Inc. now owns 319,208 shares of the company’s stock worth $18,291,000 after purchasing an additional 9,922 shares in the last quarter. Institutional investors own 65.48% of the company’s stock.
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.
See Also: Book Value Per Share �� BVPS
No comments:
Post a Comment