FY2024 EPS Forecast for Monster Beverage Lowered by Analyst

Monster Beverage Co. (NASDAQ:MNST) – Equities researchers at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for shares of Monster Beverage in a note issued to investors on Sunday, November 10th. Roth Capital analyst S. Mcgowan now anticipates that the company will earn $1.59 per share for the year, down from their previous estimate of $1.66. The consensus estimate for Monster Beverage’s current full-year earnings is $1.65 per share. Roth Capital also issued estimates for Monster Beverage’s Q4 2024 earnings at $0.38 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.46 EPS, FY2025 earnings at $1.94 EPS, Q3 2026 earnings at $0.58 EPS and FY2026 earnings at $2.34 EPS.

A number of other equities analysts have also commented on the stock. Argus boosted their price target on shares of Monster Beverage from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group increased their price target on Monster Beverage from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on Monster Beverage from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Truist Financial lowered their target price on Monster Beverage from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, Jefferies Financial Group reduced their price target on shares of Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $56.45.

Monster Beverage Stock Performance

Shares of NASDAQ:MNST opened at $56.02 on Tuesday. The stock has a market capitalization of $54.87 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The business’s fifty day moving average price is $51.86 and its two-hundred day moving average price is $51.00. Monster Beverage has a fifty-two week low of $43.32 and a fifty-two week high of $61.22. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.41 and a quick ratio of 2.69.

Institutional Trading of Monster Beverage

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Monster Beverage by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,741,352 shares of the company’s stock worth $3,837,867,000 after purchasing an additional 1,059,042 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Monster Beverage by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 11,659,619 shares of the company’s stock valued at $691,182,000 after purchasing an additional 37,391 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Monster Beverage by 4.1% in the 1st quarter. Janus Henderson Group PLC now owns 11,209,122 shares of the company’s stock valued at $664,469,000 after purchasing an additional 440,962 shares during the period. Ninety One UK Ltd increased its stake in Monster Beverage by 93.9% during the 2nd quarter. Ninety One UK Ltd now owns 7,477,852 shares of the company’s stock worth $373,519,000 after purchasing an additional 3,620,436 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in Monster Beverage by 41.1% during the 1st quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock worth $268,465,000 after buying an additional 1,318,890 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

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.