Monster Beverage Corporation (NASDAQ:MNST) Stock Rating Lowered by Zacks Investment Research
Monster Beverage Corporation (NASDAQ:MNST) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Monster Beverage’s earnings missed the Zacks Consensus Estimate by 2.5% but increased 28.6% year over year on higher sales. The international segment posted strong results and looks well positioned for the days ahead. The company has several new products lined up for the remaining of 2017 which is expected to boost sales. The company successfully launched or transitioned Monster Energy Drinks to Coca-Cola bottlers in a number of markets in the quarter and expects further transitions and launches in the second half of the year. However, operating expenses continue to rise. Results were also hurt by unfavorable currency rates which dented quarterly net sales by $8.3 million.”
Several other analysts also recently commented on the company. Goldman Sachs Group, Inc. (The) increased their target price on Monster Beverage Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Vetr upgraded Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating and set a $52.90 target price on the stock in a research note on Wednesday, May 17th. Jefferies Group LLC increased their target price on Monster Beverage Corporation from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Morgan Stanley reiterated an “overweight” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a research note on Monday, May 15th. Finally, Cowen and Company reiterated an “outperform” rating and set a $58.00 target price on shares of Monster Beverage Corporation in a research note on Thursday, June 22nd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.28.
Monster Beverage Corporation (NASDAQ:MNST) opened at 52.03 on Thursday. Monster Beverage Corporation has a 12 month low of $40.64 and a 12 month high of $55.50. The company’s 50 day moving average price is $51.72 and its 200 day moving average price is $47.71. The stock has a market cap of $29.55 billion, a PE ratio of 39.36 and a beta of 0.96.
Monster Beverage Corporation (NASDAQ:MNST) last issued its earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by $0.01. Monster Beverage Corporation had a net margin of 23.98% and a return on equity of 23.56%. The business had revenue of $907.07 million for the quarter, compared to analysts’ expectations of $901.38 million. During the same quarter in the prior year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts forecast that Monster Beverage Corporation will post $1.48 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in MNST. Huntington National Bank increased its position in Monster Beverage Corporation by 42.2% in the second quarter. Huntington National Bank now owns 2,133 shares of the company’s stock valued at $106,000 after buying an additional 633 shares during the period. Commonwealth Bank of Australia increased its position in Monster Beverage Corporation by 11.0% in the second quarter. Commonwealth Bank of Australia now owns 2,346 shares of the company’s stock valued at $116,000 after buying an additional 232 shares during the period. Coconut Grove Bank increased its position in Monster Beverage Corporation by 128.0% in the first quarter. Coconut Grove Bank now owns 2,565 shares of the company’s stock valued at $118,000 after buying an additional 1,440 shares during the period. Assetmark Inc. increased its position in Monster Beverage Corporation by 7.7% in the first quarter. Assetmark Inc. now owns 4,350 shares of the company’s stock valued at $201,000 after buying an additional 311 shares during the period. Finally, Dynamic Advisors Solutions LLC bought a new position in Monster Beverage Corporation during the second quarter valued at $202,000. Institutional investors own 65.91% of the company’s stock.
Monster Beverage Corporation Company Profile
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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