Monster Beverage (NASDAQ:MNST) Issues Quarterly Earnings Results

Monster Beverage (NASDAQ:MNST) announced its earnings results on Wednesday. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04), Briefing.com reports. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year.

Monster Beverage Price Performance

Shares of MNST stock traded up $1.05 during trading hours on Friday, reaching $46.06. 14,618,892 shares of the stock were exchanged, compared to its average volume of 7,446,106. The business’s fifty day moving average is $50.14 and its two-hundred day moving average is $53.84. Monster Beverage has a 12-month low of $43.32 and a 12-month high of $61.22. The firm has a market capitalization of $47.98 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.09 and a beta of 0.76.

Insider Buying and Selling

In related news, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total transaction of $2,233,632.00. Following the sale, the chief executive officer now directly owns 1,875,558 shares in the company, valued at $99,404,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $52.22, for a total value of $13,055,000.00. Following the completion of the transaction, the director now directly owns 532,754 shares of the company’s stock, valued at $27,820,413.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hilton H. Schlosberg sold 42,144 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $53.00, for a total value of $2,233,632.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,558 shares of the company’s stock, valued at $99,404,574. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 307,221 shares of company stock worth $16,070,374. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

MNST has been the topic of several recent research reports. Evercore ISI lowered their target price on shares of Monster Beverage from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday. Citigroup lowered their price target on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial lowered their price target on shares of Monster Beverage from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday. Royal Bank of Canada lowered their price target on shares of Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, BNP Paribas initiated coverage on shares of Monster Beverage in a research report on Monday, June 24th. They set an “underperform” rating and a $48.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage presently has a consensus rating of “Hold” and an average price target of $56.19.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.