Wall Street brokerages predict that Monster Beverage Corp (NASDAQ:MNST) will announce earnings per share of $0.46 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Monster Beverage’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.44. Monster Beverage reported earnings per share of $0.40 during the same quarter last year, which suggests a positive year over year growth rate of 15%. The firm is scheduled to issue its next earnings report on Wednesday, November 14th.
On average, analysts expect that Monster Beverage will report full year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.71 to $1.76. For the next financial year, analysts forecast that the business will report earnings of $1.97 per share, with EPS estimates ranging from $1.86 to $2.04. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Monster Beverage.
Monster Beverage (NASDAQ:MNST) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Monster Beverage had a return on equity of 24.39% and a net margin of 25.27%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis.
MNST opened at $52.11 on Wednesday. Monster Beverage has a 1-year low of $47.61 and a 1-year high of $70.21. The firm has a market capitalization of $28.64 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 1.87 and a beta of 1.36.
Monster Beverage declared that its board has authorized a stock repurchase program on Wednesday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Monster Beverage news, insider Emelie Tirre sold 17,000 shares of the 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 transaction, the insider now owns 46,847 shares in the company, valued at approximately $2,853,450.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.70% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of MNST. Janus Henderson Group PLC increased its position in Monster Beverage by 414.7% during the 2nd quarter. Janus Henderson Group PLC now owns 4,279,018 shares of the company’s stock worth $245,188,000 after buying an additional 3,447,585 shares during the period. Voya Investment Management LLC increased its position in Monster Beverage by 24.4% during the 2nd quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after buying an additional 1,071,066 shares during the period. Fort Washington Investment Advisors Inc. OH bought a new position in Monster Beverage during the 2nd quarter worth $56,494,000. Millennium Management LLC increased its position in Monster Beverage by 133.5% during the 2nd quarter. Millennium Management LLC now owns 1,099,631 shares of the company’s stock worth $63,009,000 after buying an additional 628,708 shares during the period. Finally, BlackRock Inc. increased its position in Monster Beverage by 2.6% during the 2nd quarter. BlackRock Inc. now owns 23,831,781 shares of the company’s stock worth $1,365,558,000 after buying an additional 604,939 shares during the period. Hedge funds and other institutional investors own 64.82% of the company’s stock.
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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