Q2 2019 EPS Estimates for Monster Beverage Corp Cut by Analyst (MNST)
Monster Beverage Corp (NASDAQ:MNST) – Stock analysts at SunTrust Banks reduced their Q2 2019 earnings estimates for Monster Beverage in a research note issued to investors on Thursday, October 18th. SunTrust Banks analyst W. Chappell now expects that the company will earn $0.52 per share for the quarter, down from their prior estimate of $0.53.
A number of other research firms also recently issued reports on MNST. ValuEngine downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Stifel Nicolaus increased their price target on Monster Beverage from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Zacks Investment Research downgraded Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. BidaskClub raised Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Finally, Jefferies Financial Group increased their price target on Monster Beverage from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.69.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The business’s revenue was up 12.0% compared to the same quarter last year.
Monster Beverage announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, insider Emelie Tirre sold 17,000 shares of the firm’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 owns 46,847 shares of the company’s stock, valued at $2,853,450.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MNST. Integrated Investment Consultants LLC acquired a new stake in Monster Beverage in the second quarter worth about $123,000. Exane Derivatives boosted its holdings in Monster Beverage by 7,740.0% in the second quarter. Exane Derivatives now owns 2,352 shares of the company’s stock worth $134,000 after acquiring an additional 2,322 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Monster Beverage in the second quarter worth about $175,000. Valeo Financial Advisors LLC acquired a new stake in Monster Beverage in the second quarter worth about $181,000. Finally, Gradient Investments LLC boosted its holdings in Monster Beverage by 940.9% in the third quarter. Gradient Investments LLC now owns 3,435 shares of the company’s stock worth $200,000 after acquiring an additional 3,105 shares in the last quarter. 64.84% of the stock is owned by institutional investors and hedge funds.
Monster Beverage Company Profile
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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