Monster Beverage (MNST) Price Target Cut to $60.00 by Analysts at BMO Capital Markets

Monster Beverage (NASDAQ:MNST) had its price objective lowered by BMO Capital Markets to $60.00 in a research note published on Friday, The Fly reports. The brokerage currently has an outperform rating on the stock. The analysts noted that the move was a valuation call.

Other equities analysts have also issued reports about the company. Jefferies Financial Group raised their price target on Monster Beverage from $70.00 to $71.00 and gave the stock a buy rating in a report on Thursday, August 9th. BidaskClub raised Monster Beverage from a hold rating to a buy rating in a report on Friday, August 17th. Zacks Investment Research raised Monster Beverage from a hold rating to a buy rating and set a $68.00 price target for the company in a report on Friday, July 20th. ValuEngine lowered Monster Beverage from a buy rating to a hold rating in a report on Thursday, August 23rd. Finally, Citigroup raised their price target on Monster Beverage from $62.00 to $71.00 and gave the stock a buy rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Monster Beverage has a consensus rating of Buy and a consensus price target of $63.63.

NASDAQ MNST traded up $2.70 on Friday, hitting $56.84. 5,340,989 shares of the stock traded hands, compared to its average volume of 3,222,555. Monster Beverage has a 12 month low of $47.61 and a 12 month high of $70.21. The firm has a market cap of $30.89 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36.

Monster Beverage (NASDAQ:MNST) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. Monster Beverage had a return on equity of 25.64% and a net margin of 25.86%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $988.73 million. During the same period in the prior year, the company earned $0.40 earnings per share. Monster Beverage’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Monster Beverage will post 1.75 earnings per share for the current fiscal year.

Monster Beverage announced that its board has initiated a stock buyback plan on Wednesday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 1.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, insider Emelie Tirre sold 17,000 shares of Monster Beverage stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $60.91, for a total transaction of $1,035,470.00. Following the completion of the sale, the insider now owns 46,847 shares of the company’s stock, valued at $2,853,450.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.70% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd boosted its stake in Monster Beverage by 287.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,900 shares of the company’s stock valued at $111,000 after buying an additional 1,409 shares during the period. Integrated Investment Consultants LLC bought a new stake in Monster Beverage during the second quarter valued at $123,000. Exane Derivatives boosted its stake in Monster Beverage by 7,740.0% during the second quarter. Exane Derivatives now owns 2,352 shares of the company’s stock valued at $134,000 after buying an additional 2,322 shares during the period. Valeo Financial Advisors LLC bought a new stake in Monster Beverage during the second quarter valued at $181,000. Finally, Qube Research & Technologies Ltd bought a new stake in Monster Beverage during the second quarter valued at $175,000. 65.02% of the stock is owned by institutional investors.

Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

Read More: Earnings Per Share (EPS)

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Analyst Recommendations for Monster Beverage (NASDAQ:MNST)

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