Roth Capital Comments on Monster Beverage Co.’s Q3 2024 Earnings (NASDAQ:MNST)

Monster Beverage Co. (NASDAQ:MNST) – Investment analysts at Roth Capital decreased their Q3 2024 earnings per share estimates for shares of Monster Beverage in a research report issued on Monday, August 12th. Roth Capital analyst S. Mcgowan now forecasts that the company will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.46. The consensus estimate for Monster Beverage’s current full-year earnings is $1.75 per share. Roth Capital also issued estimates for Monster Beverage’s Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.66 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.47 EPS, FY2025 earnings at $1.99 EPS, Q1 2026 earnings at $0.56 EPS, Q2 2026 earnings at $0.62 EPS and FY2026 earnings at $2.35 EPS.

Monster Beverage (NASDAQ:MNST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.04). The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada decreased their price objective on Monster Beverage from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on Monster Beverage from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group decreased their price objective on Monster Beverage from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus decreased their price target on Monster Beverage from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. decreased their price target on Monster Beverage from $56.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Monster Beverage has an average rating of “Moderate Buy” and an average target price of $55.85.

Monster Beverage Price Performance

Shares of MNST opened at $46.99 on Wednesday. The stock has a market capitalization of $48.95 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.09 and a beta of 0.76. Monster Beverage has a 1 year low of $43.32 and a 1 year high of $61.22. The business’s 50 day simple moving average is $49.68 and its 200-day simple moving average is $53.59.

Institutional Investors Weigh In On Monster Beverage

A number of institutional investors have recently added to or reduced their stakes in MNST. LRI Investments LLC bought a new stake in Monster Beverage during the first quarter valued at about $26,000. Stephens Consulting LLC bought a new stake in Monster Beverage during the second quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new stake in Monster Beverage during the fourth quarter valued at about $27,000. Tortoise Investment Management LLC boosted its position in Monster Beverage by 360.0% during the fourth quarter. Tortoise Investment Management LLC now owns 506 shares of the company’s stock valued at $29,000 after purchasing an additional 396 shares in the last quarter. Finally, Kings Path Partners LLC bought a new stake in Monster Beverage during the second quarter valued at about $30,000. Institutional investors own 72.36% of the company’s stock.

Insider Transactions at Monster Beverage

In other news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $51.85, for a total transaction of $781,742.45. Following the transaction, the director now owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Mark J. Hall sold 250,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the transaction, the director now owns 532,754 shares of the company’s stock, valued at approximately $27,820,413.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now directly owns 68,167 shares in the company, valued at approximately $3,534,458.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,221 shares of company stock valued at $16,070,374. 7.80% of the stock is currently owned by corporate insiders.

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.