Wedbush Weighs in on Monster Beverage Co.'s Q2 2024 Earnings (NASDAQ:MNST)

Monster Beverage Co. (NASDAQ:MNST - Free Report) - Wedbush cut their Q2 2024 earnings per share estimates for shares of Monster Beverage in a report issued on Monday, May 6th. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.47. The consensus estimate for Monster Beverage's current full-year earnings is $1.79 per share. Wedbush also issued estimates for Monster Beverage's Q4 2024 earnings at $0.44 EPS, Q1 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.49 EPS and FY2025 earnings at $2.05 EPS.

Several other research analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on Monster Beverage from $68.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, May 3rd. Citigroup increased their price objective on shares of Monster Beverage from $63.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. Piper Sandler upped their price target on shares of Monster Beverage from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Friday, May 3rd. Redburn Atlantic initiated coverage on Monster Beverage in a research note on Wednesday, March 6th. They set a "buy" rating for the company. Finally, HSBC dropped their target price on Monster Beverage from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.32.

Monster Beverage Stock Performance

NASDAQ:MNST traded down $0.37 during midday trading on Wednesday, reaching $54.30. 6,701,283 shares of the stock traded hands, compared to its average volume of 5,591,955. The stock has a market capitalization of $56.57 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74. Monster Beverage has a 12-month low of $47.13 and a 12-month high of $61.22. The business has a 50-day moving average of $56.78 and a two-hundred day moving average of $55.92.

Monster Beverage (NASDAQ:MNST - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Monster Beverage had a net margin of 22.83% and a return on equity of 20.74%. Monster Beverage's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share.

Insider Activity

In other news, Director Mark J. Hall sold 659,000 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $58.55, for a total transaction of $38,584,450.00. Following the completion of the sale, the director now owns 777,840 shares of the company's stock, valued at $45,542,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Monster Beverage

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Peoples Bank KS purchased a new position in Monster Beverage in the third quarter worth approximately $26,000. ICA Group Wealth Management LLC purchased a new position in Monster Beverage during the fourth quarter worth about $27,000. Headinvest LLC acquired a new stake in shares of Monster Beverage during the third quarter valued at about $28,000. Tortoise Investment Management LLC lifted its holdings in shares of Monster Beverage by 360.0% in the 4th quarter. Tortoise Investment Management LLC now owns 506 shares of the company's stock worth $29,000 after acquiring an additional 396 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Monster Beverage during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.36% of the company's stock.

About Monster Beverage

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.