Trading Report: The SunTrust Banks Analysts Reduce Earnings Estimates for Monster Beverage Corp. (MNST)

The SunTrust Banks Analysts Reduce Earnings Estimates for Monster Beverage Corp. (MNST)

Monster Beverage Corp. (NASDAQ:MNST) – Stock analysts at SunTrust Banks dropped their FY2018 earnings per share estimates for Monster Beverage Corp. in a research note issued on Thursday. SunTrust Banks analyst W. Chappell now expects that the firm will post earnings of $5.24 per share for the year, down from their prior estimate of $5.44.

Monster Beverage Corp. (NASDAQ:MNST) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by $0.04. Monster Beverage Corp. had a net margin of 22.73% and a return on equity of 15.46%. The firm earned $945.80 million during the quarter, compared to the consensus estimate of $804.24 million. During the same quarter last year, the business posted $0.79 earnings per share. Monster Beverage Corp.’s revenue was up 18.9% compared to the same quarter last year.

MNST has been the subject of a number of other research reports. Susquehanna reissued a “hold” rating on shares of Monster Beverage Corp. in a research report on Monday, August 8th. Royal Bank Of Canada upped their price target on shares of Monster Beverage Corp. from $166.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Citigroup Inc. upped their price target on shares of Monster Beverage Corp. from $170.00 to $199.00 and gave the company a “buy” rating in a research report on Monday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Monster Beverage Corp. from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $165.00 price target on shares of Monster Beverage Corp. in a research report on Friday, August 5th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $166.37.

Monster Beverage Corp. (NASDAQ:MNST) opened at 143.92 on Friday. Monster Beverage Corp. has a 52-week low of $113.08 and a 52-week high of $166.50. The company has a market capitalization of $27.40 billion, a price-to-earnings ratio of 44.92 and a beta of 0.74. The stock has a 50 day moving average of $146.36 and a 200-day moving average of $150.46. Monster Beverage Corp. shares are set to split on the morning of Thursday, November 10th. The 3-1 split was announced on Friday, October 14th. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, November 9th.

In other news, VP Thomas J. Kelly sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $159.66, for a total transaction of $1,596,600.00. Following the completion of the transaction, the vice president now directly owns 5,717 shares in the company, valued at approximately $912,776.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MNST. Commonwealth Bank of Australia increased its position in Monster Beverage Corp. by 17.4% in the second quarter. Commonwealth Bank of Australia now owns 627 shares of the company’s stock worth $101,000 after buying an additional 93 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Monster Beverage Corp. during the first quarter valued at $121,000. Meeder Asset Management Inc. raised its stake in Monster Beverage Corp. by 1,798.1% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the company’s stock valued at $132,000 after buying an additional 935 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in Monster Beverage Corp. during the second quarter valued at $183,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in Monster Beverage Corp. during the second quarter valued at $203,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Monster Beverage Corp. Company Profile

Related posts

Leave a Comment