Jefferies Group LLC Raises Monster Beverage Corporation (NASDAQ:MNST) Price Target to $65.00
Monster Beverage Corporation (NASDAQ:MNST) had its price target increased by Jefferies Group LLC from $63.00 to $65.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a buy rating on the stock. Jefferies Group also issued estimates for Monster Beverage Corporation’s Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.51 EPS, FY2018 earnings at $1.77 EPS and FY2019 earnings at $2.04 EPS.
A number of other research analysts have also recently commented on MNST. Credit Suisse Group set a $59.00 price target on Monster Beverage Corporation and gave the stock a buy rating in a research report on Saturday, May 6th. UBS AG set a $59.00 price target on Monster Beverage Corporation and gave the stock a buy rating in a research report on Wednesday, June 21st. BidaskClub cut Monster Beverage Corporation from a buy rating to a hold rating in a research report on Thursday, July 6th. Susquehanna Bancshares Inc restated a hold rating and issued a $42.00 price target (down previously from $45.00) on shares of Monster Beverage Corporation in a research report on Monday, August 7th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $61.00 price target on shares of Monster Beverage Corporation in a research report on Friday, June 23rd. Three equities research 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. The stock presently has a consensus rating of Buy and a consensus target price of $56.28.
Shares of Monster Beverage Corporation (NASDAQ:MNST) traded up 2.48% during midday trading on Wednesday, hitting $53.82. 2,744,673 shares of the stock traded hands. The company has a market capitalization of $30.58 billion, a P/E ratio of 40.71 and a beta of 0.96. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $161.74. The stock has a 50 day moving average of $51.84 and a 200 day moving average of $47.82.
Monster Beverage Corporation (NASDAQ:MNST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. The company had revenue of $907.07 million during the quarter, compared to the consensus estimate of $901.38 million. During the same quarter in the previous year, the business posted $0.99 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Monster Beverage Corporation will post $1.48 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in MNST. Cape Cod Five Cents Savings Bank acquired a new stake in Monster Beverage Corporation during the first quarter valued at $1,006,000. Retirement Systems of Alabama raised its stake in Monster Beverage Corporation by 1.2% in the first quarter. Retirement Systems of Alabama now owns 194,465 shares of the company’s stock valued at $8,978,000 after buying an additional 2,320 shares during the period. Boston Advisors LLC raised its stake in Monster Beverage Corporation by 7,367.2% in the first quarter. Boston Advisors LLC now owns 386,653 shares of the company’s stock valued at $17,852,000 after buying an additional 381,475 shares during the period. Capital Impact Advisors LLC raised its stake in Monster Beverage Corporation by 48.7% in the first quarter. Capital Impact Advisors LLC now owns 29,667 shares of the company’s stock valued at $1,370,000 after buying an additional 9,720 shares during the period. Finally, DnB Asset Management AS raised its stake in Monster Beverage Corporation by 21.2% in the first quarter. DnB Asset Management AS now owns 54,375 shares of the company’s stock valued at $2,510,000 after buying an additional 9,500 shares during the period. 65.91% of the stock is currently owned by institutional investors and hedge funds.
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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