Equities analysts expect Monster Beverage (NASDAQ:MNST) to post sales of $859.74 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Monster Beverage’s earnings, with the lowest sales estimate coming in at $852.10 million and the highest estimate coming in at $865.78 million. Monster Beverage reported sales of $742.15 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is scheduled to report its next earnings report on Thursday, May 3rd.
On average, analysts expect that Monster Beverage will report full year sales of $3.79 billion for the current year, with estimates ranging from $3.77 billion to $3.84 billion. For the next year, analysts expect that the company will post sales of $4.19 billion per share, with estimates ranging from $4.06 billion to $4.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Monster Beverage.
Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, February 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Monster Beverage had a return on equity of 22.54% and a net margin of 24.36%. The business had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $841.25 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year.
NASDAQ:MNST traded up $0.30 during mid-day trading on Friday, reaching $56.98. The stock had a trading volume of 1,266,116 shares, compared to its average volume of 2,865,134. The company has a market capitalization of $32,103.71, a price-to-earnings ratio of 39.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. Monster Beverage has a 1-year low of $44.35 and a 1-year high of $70.21.
Monster Beverage declared that its Board of Directors has initiated a stock buyback program on Thursday, March 1st that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Mark J. Hall sold 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $58.11, for a total transaction of $1,917,630.00. Following the completion of the transaction, the director now directly owns 791,808 shares in the company, valued at $46,011,962.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Norman Epstein sold 7,770 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $56.09, for a total value of $435,819.30. Following the transaction, the director now owns 14,280 shares of the company’s stock, valued at $800,965.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,770 shares of company stock valued at $3,228,099. Insiders own 9.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. raised its holdings in Monster Beverage by 2.5% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 71,242 shares of the company’s stock worth $3,935,000 after purchasing an additional 1,710 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in Monster Beverage during the third quarter worth approximately $1,120,000. Janus Henderson Group PLC raised its holdings in Monster Beverage by 39.5% during the third quarter. Janus Henderson Group PLC now owns 103,578 shares of the company’s stock worth $5,721,000 after purchasing an additional 29,305 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Monster Beverage by 11.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,769 shares of the company’s stock worth $705,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Monster Beverage by 11.9% in the third quarter. Janney Montgomery Scott LLC now owns 8,626 shares of the company’s stock valued at $477,000 after buying an additional 914 shares in the last quarter. Institutional investors and hedge funds own 65.51% of the company’s stock.
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About Monster Beverage
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.
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