Monster Beverage (NASDAQ:MNST) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Monster Beverage (NASDAQ:MNST) released its earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01), Briefing.com reports. Monster Beverage had a net margin of 22.84% and a return on equity of 20.95%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same period in the prior year, the firm posted $0.38 EPS. Monster Beverage’s revenue was up 11.8% compared to the same quarter last year.

Monster Beverage Trading Down 0.3 %

Monster Beverage stock traded down $0.15 during trading hours on Thursday, reaching $53.39. 6,283,014 shares of the stock were exchanged, compared to its average volume of 5,411,268. Monster Beverage has a twelve month low of $47.13 and a twelve month high of $61.22. The company has a market cap of $55.62 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 2.19 and a beta of 0.74. The stock has a 50 day moving average of $56.88 and a two-hundred day moving average of $55.75.

Wall Street Analyst Weigh In

Several research firms have issued reports on MNST. Royal Bank of Canada upped their price target on shares of Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Monster Beverage from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. BMO Capital Markets lifted their price objective on shares of Monster Beverage from $57.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. Truist Financial lowered shares of Monster Beverage from a “buy” rating to a “sell” rating and dropped their price objective for the company from $65.00 to $46.00 in a research report on Thursday, April 25th. Finally, Citigroup lifted their target price on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.68.

Insider Activity

In other Monster Beverage news, Director Mark J. Hall sold 659,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $58.55, for a total value of $38,584,450.00. Following the sale, the director now owns 777,840 shares of the company’s stock, valued at approximately $45,542,532. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 9.40% of the company’s stock.

Monster Beverage Company Profile

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, Alcohol Brands, and Other.