Monster Beverage (NASDAQ:MNST) Announces Quarterly Earnings Results

Monster Beverage (NASDAQ:MNST) posted its earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01), Briefing.com reports. Monster Beverage had a net margin of 22.83% and a return on equity of 21.13%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period last year, the firm posted $0.38 earnings per share. Monster Beverage’s quarterly revenue was up 11.8% on a year-over-year basis.

Monster Beverage Stock Up 3.0 %

MNST traded up $1.61 during mid-day trading on Friday, reaching $55.00. 12,204,624 shares of the company traded hands, compared to its average volume of 5,889,620. The stock has a market capitalization of $57.30 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.19 and a beta of 0.74. Monster Beverage has a 52-week low of $47.13 and a 52-week high of $61.22. The company’s fifty day moving average price is $56.84 and its 200-day moving average price is $55.73.

Wall Street Analyst Weigh In

MNST has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of Monster Beverage from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Piper Sandler raised their price objective on shares of Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. HSBC decreased their target price on Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Truist Financial downgraded Monster Beverage from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. Finally, BMO Capital Markets lowered their price target on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and a consensus target price of $61.32.

Insider Buying and Selling

In other news, Director Mark J. Hall sold 659,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the sale, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.40% of the stock is currently owned by corporate insiders.

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.