FY2018 Earnings Estimate for Monster Beverage Co. Issued By Jefferies Group (MNST)
Monster Beverage Co. (NASDAQ:MNST) – Investment analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for shares of Monster Beverage in a research report issued on Tuesday. Jefferies Group analyst K. Grundy now anticipates that the company will post earnings of $1.78 per share for the year, up from their prior forecast of $1.77. Jefferies Group has a “Buy” rating and a $62.00 price objective on the stock.
Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, March 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Monster Beverage had a net margin of 23.07% and a return on equity of 17.06%. The firm had revenue of $753.80 million for the quarter, compared to analyst estimates of $723.88 million. During the same quarter in the previous year, the business posted $0.23 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by Financial Market News and is the sole property of of Financial Market News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.financial-market-news.com/2017/04/21/fy2018-earnings-estimate-for-monster-beverage-co-issued-by-jefferies-group-mnst.html.
Several other equities research analysts have also recently commented on MNST. Susquehanna Bancshares Inc set a $39.00 price target on shares of Monster Beverage and gave the stock a “hold” rating in a research report on Sunday, January 15th. Wells Fargo & Co reiterated a “market perform” rating and set a $45.00 price target on shares of Monster Beverage in a research report on Sunday, April 2nd. Goldman Sachs Group Inc cut shares of Monster Beverage from a “conviction-buy” rating to a “buy” rating and set a $54.00 price target for the company. in a research report on Monday. Cowen and Company reiterated an “outperform” rating and set a $52.00 price target on shares of Monster Beverage in a research report on Tuesday, February 28th. Finally, Stifel Nicolaus set a $59.00 price target on shares of Monster Beverage and gave the stock a “buy” rating in a research report on Sunday, January 15th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Monster Beverage has an average rating of “Buy” and an average price target of $55.88.
Shares of Monster Beverage (NASDAQ:MNST) traded down 0.68% during midday trading on Friday, hitting $45.43. 1,010,816 shares of the company were exchanged. The stock’s 50-day moving average is $46.37 and its 200-day moving average is $62.14. The stock has a market cap of $25.74 billion, a PE ratio of 38.18 and a beta of 0.77. Monster Beverage has a one year low of $40.30 and a one year high of $55.50.
In other Monster Beverage news, Director Harold C. Taber, Jr. sold 15,000 shares of Monster Beverage stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $47.08, for a total value of $706,200.00. Following the transaction, the director now owns 70,001 shares of the company’s stock, valued at $3,295,647.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark J. Hall sold 93,000 shares of Monster Beverage stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $46.12, for a total transaction of $4,289,160.00. Following the completion of the transaction, the insider now directly owns 866,808 shares in the company, valued at approximately $39,977,184.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 595,500 shares of company stock worth $27,586,110. Insiders own 9.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Monster Beverage by 173.7% in the fourth quarter. FMR LLC now owns 44,625,735 shares of the company’s stock worth $1,978,704,000 after buying an additional 28,319,459 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Monster Beverage by 214.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 20,452,241 shares of the company’s stock worth $906,852,000 after buying an additional 13,947,616 shares during the period. State Street Corp increased its stake in Monster Beverage by 200.8% in the fourth quarter. State Street Corp now owns 16,704,037 shares of the company’s stock worth $740,660,000 after buying an additional 11,150,044 shares during the period. Sands Capital Management LLC acquired a new stake in Monster Beverage during the fourth quarter worth about $569,690,000. Finally, Franklin Resources Inc. increased its stake in Monster Beverage by 173.3% in the fourth quarter. Franklin Resources Inc. now owns 6,758,524 shares of the company’s stock worth $299,713,000 after buying an additional 4,285,252 shares during the period. 28.01% of the stock is currently owned by hedge funds and other institutional investors.
About Monster Beverage
Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.
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