Zacks: Brokerages Anticipate Monster Beverage Co. (NASDAQ:MNST) Will Post Quarterly Sales of $1.61 Billion

Analysts expect Monster Beverage Co. (NASDAQ:MNSTGet Rating) to post sales of $1.61 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Monster Beverage’s earnings. The lowest sales estimate is $1.58 billion and the highest is $1.65 billion. Monster Beverage posted sales of $1.46 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Monster Beverage will report full year sales of $6.38 billion for the current year, with estimates ranging from $6.30 billion to $6.41 billion. For the next financial year, analysts expect that the company will post sales of $7.04 billion, with estimates ranging from $6.93 billion to $7.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Monster Beverage.

Monster Beverage (NASDAQ:MNSTGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06). Monster Beverage had a net margin of 23.32% and a return on equity of 21.21%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year.

Several research analysts recently commented on MNST shares. Stifel Nicolaus reduced their price objective on shares of Monster Beverage from $107.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, March 10th. Sanford C. Bernstein upgraded shares of Monster Beverage from a “market perform” rating to an “outperform” rating and upped their price target for the company from $97.00 to $110.00 in a research note on Wednesday, May 18th. BMO Capital Markets cut their price target on shares of Monster Beverage from $92.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 6th. Citigroup cut their price target on shares of Monster Beverage from $110.00 to $98.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Monster Beverage from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 30th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Monster Beverage presently has a consensus rating of “Buy” and an average price target of $99.46.

NASDAQ:MNST opened at $87.49 on Wednesday. The firm has a market cap of $46.34 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.06 and a beta of 1.01. The firm has a 50-day simple moving average of $83.72 and a 200-day simple moving average of $85.98. Monster Beverage has a one year low of $71.78 and a one year high of $99.89.

In related news, insider Emelie Tirre sold 40,729 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $88.06, for a total transaction of $3,586,595.74. Following the sale, the insider now directly owns 19,526 shares of the company’s stock, valued at $1,719,459.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. New England Professional Planning Group Inc. acquired a new stake in shares of Monster Beverage in the first quarter valued at about $388,000. Quent Capital LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at about $28,000. Ancora Advisors LLC acquired a new stake in shares of Monster Beverage in the first quarter valued at about $27,000. Zullo Investment Group Inc. acquired a new stake in shares of Monster Beverage in the fourth quarter valued at about $33,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Monster Beverage in the fourth quarter valued at about $36,000. 63.44% of the stock is currently owned by institutional investors and hedge funds.

Monster Beverage Company Profile (Get Rating)

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, and Other. It offers carbonated energy drinks, non-carbonated, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages.

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