Monster Beverage Corp (MNST) Expected to Announce Earnings of $0.46 Per Share

Equities research analysts expect that Monster Beverage Corp (NASDAQ:MNST) will post earnings per share of $0.46 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Monster Beverage’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.46. Monster Beverage reported earnings of $0.40 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 15%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that Monster Beverage will report full year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.71 to $1.75. For the next year, analysts anticipate that the firm will report earnings of $1.97 per share, with EPS estimates ranging from $1.89 to $2.04. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Monster Beverage.

Monster Beverage (NASDAQ:MNST) last issued its earnings results on Wednesday, August 8th. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share.

Several research analysts have commented on the company. BMO Capital Markets boosted their target price on Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 19th. Evercore ISI set a $65.00 target price on Monster Beverage and gave the stock a “buy” rating in a research note on Tuesday, June 5th. ValuEngine raised Monster Beverage from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. BidaskClub raised Monster Beverage from a “hold” rating to a “buy” rating in a research note on Saturday, June 30th. Finally, Guggenheim assumed coverage on Monster Beverage in a research note on Thursday. They set a “buy” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Monster Beverage presently has a consensus rating of “Buy” and a consensus price target of $64.41.

In other news, insider Emelie Tirre sold 17,000 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the sale, the insider now directly owns 46,847 shares in the company, valued at $2,853,450.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MNST. Xact Kapitalforvaltning AB boosted its holdings in Monster Beverage by 11.7% in the second quarter. Xact Kapitalforvaltning AB now owns 97,933 shares of the company’s stock valued at $5,612,000 after acquiring an additional 10,232 shares during the last quarter. OLD National Bancorp IN bought a new stake in Monster Beverage in the second quarter valued at approximately $4,959,000. BlackRock Inc. boosted its holdings in Monster Beverage by 2.6% in the second quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock valued at $1,365,558,000 after acquiring an additional 604,939 shares during the last quarter. Trexquant Investment LP boosted its holdings in Monster Beverage by 65.4% in the second quarter. Trexquant Investment LP now owns 12,225 shares of the company’s stock valued at $700,000 after acquiring an additional 4,835 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. boosted its holdings in Monster Beverage by 7.6% in the second quarter. Pinnacle Financial Partners Inc. now owns 15,578 shares of the company’s stock valued at $892,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors own 64.55% of the company’s stock.

NASDAQ MNST traded up $0.59 during trading on Thursday, hitting $59.53. 3,308,892 shares of the company’s stock were exchanged, compared to its average volume of 2,183,959. The company has a market cap of $32.21 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 2.11 and a beta of 1.29. Monster Beverage has a fifty-two week low of $47.61 and a fifty-two week high of $70.21.

Monster Beverage announced that its board has authorized a stock 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 repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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.

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