Wedbush Comments on Monster Beverage Co.’s Q2 2024 Earnings (NASDAQ:MNST)

Monster Beverage Co. (NASDAQ:MNST) – Analysts at Wedbush lowered their Q2 2024 earnings per share estimates for shares of Monster Beverage in a note issued to investors on Monday, May 6th. Wedbush analyst G. Pascarelli now forecasts that the company will post earnings of $0.46 per share for the quarter, down from their prior forecast of $0.47. The consensus estimate for Monster Beverage’s current full-year earnings is $1.79 per share. Wedbush also issued estimates for Monster Beverage’s Q4 2024 earnings at $0.44 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.49 EPS and FY2025 earnings at $2.05 EPS.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the prior year, the firm posted $0.38 EPS. Monster Beverage’s revenue was up 11.8% on a year-over-year basis.

Other equities analysts have also recently issued reports about the company. Citigroup boosted their target price on Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler boosted their price objective on Monster Beverage from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. BMO Capital Markets lowered their target price on shares of Monster Beverage from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and cut their price target for the stock from $65.00 to $46.00 in a research note on Thursday, April 25th. Finally, Redburn Atlantic initiated coverage on shares of Monster Beverage in a research report on Wednesday, March 6th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Monster Beverage currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.32.

Monster Beverage Price Performance

MNST opened at $55.20 on Wednesday. The firm has a market capitalization of $57.50 billion, a P/E ratio of 34.72, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74. Monster Beverage has a one year low of $47.13 and a one year high of $61.22. The company has a fifty day moving average price of $56.75 and a 200-day moving average price of $55.91.

Insider Buying and Selling at Monster Beverage

In other news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $58.55, for a total value of $38,584,450.00. Following the transaction, the director now owns 777,840 shares in the company, valued at $45,542,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Monster Beverage

A number of institutional investors have recently modified their holdings of MNST. Peoples Bank KS bought a new stake in Monster Beverage in the third quarter valued at $26,000. ICA Group Wealth Management LLC bought a new stake in shares of Monster Beverage during the 4th quarter valued at about $27,000. Headinvest LLC purchased a new position in shares of Monster Beverage during the third quarter valued at about $28,000. Tortoise Investment Management LLC raised its stake in Monster Beverage by 360.0% in the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 396 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Monster Beverage in the third quarter worth about $31,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

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.