Monster Beverage (NASDAQ:MNST)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Financial Group in a research report issued on Thursday. They currently have a $71.00 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 24.91% from the company’s previous close. Jefferies Financial Group also issued estimates for Monster Beverage’s Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.78 EPS, FY2019 earnings at $2.03 EPS and FY2020 earnings at $2.36 EPS.
The analysts wrote, “We lift our FY19-20 EPS ests. ~1% post a solid 3Q18, incl. org sales of <12% (ex-sell-in), which came in ahead of JEF/Street (+9-11%) and drove the EPS beat ($0.50 vs. $0.46). Oct. sales update of ~9.5% adj. was slightly below expectations and KO's (owns < 20% of MNST) intent to launch a Coca-Cola branded energy drink in Apr. '19 is likely to weigh on sentiment; however, at 18.5x EV/ULFCF (both in-line with KO), shares look attractive."”
Several other brokerages have also weighed in on MNST. BidaskClub upgraded Monster Beverage from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Zacks Investment Research upgraded Monster Beverage from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Friday, July 20th. BMO Capital Markets boosted their price objective on Monster Beverage from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 19th. ValuEngine lowered Monster Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, August 23rd. Finally, Citigroup boosted their price objective on Monster Beverage from $62.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.63.
Shares of Monster Beverage stock opened at $56.84 on Thursday. Monster Beverage has a twelve month low of $47.61 and a twelve month high of $70.21. The stock has a market capitalization of $30.27 billion, a P/E ratio of 38.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.36.
Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $988.73 million. During the same quarter in the previous year, the business earned $0.40 EPS. Monster Beverage’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Monster Beverage will post 1.73 earnings per share for the current year.
Monster Beverage announced that its board has initiated a share repurchase plan on Wednesday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Emelie Tirre sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $60.91, for a total value of $1,035,470.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. 9.70% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Laurel Wealth Advisors Inc. grew its position in shares of Monster Beverage by 14.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 6,594 shares of the company’s stock valued at $377,000 after purchasing an additional 836 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Monster Beverage by 16.5% in the third quarter. Penserra Capital Management LLC now owns 6,900 shares of the company’s stock valued at $402,000 after purchasing an additional 975 shares in the last quarter. Supplemental Annuity Collective Trust of NJ grew its position in shares of Monster Beverage by 25.0% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 5,000 shares of the company’s stock valued at $287,000 after purchasing an additional 1,000 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Monster Beverage by 21.5% in the second quarter. Flagship Harbor Advisors LLC now owns 5,660 shares of the company’s stock valued at $324,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Monster Beverage by 1.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,044 shares of the company’s stock valued at $4,899,000 after purchasing an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 65.02% of the company’s stock.
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.
Further Reading: Return on Investment (ROI)
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