Roth Capital Has Bearish Estimate for MNST FY2024 Earnings

Monster Beverage Co. (NASDAQ:MNST) – Investment analysts at Roth Capital dropped their FY2024 earnings per share (EPS) estimates for shares of Monster Beverage in a report issued on Sunday, November 10th. Roth Capital analyst S. Mcgowan now expects that the company will post earnings of $1.59 per share for the year, down from their prior forecast of $1.66. The consensus estimate for Monster Beverage’s current full-year earnings is $1.63 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.

Several other brokerages have also issued reports on MNST. Citigroup cut their target price on shares of Monster Beverage from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Monster Beverage from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Bank of America raised their target price on Monster Beverage from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. TD Cowen upped their price target on Monster Beverage from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday. Finally, UBS Group raised their price objective on Monster Beverage from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Monster Beverage has an average rating of “Moderate Buy” and a consensus price target of $56.45.

Monster Beverage Price Performance

Shares of MNST opened at $56.38 on Tuesday. The firm has a market cap of $54.83 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 2.67 and a beta of 0.74. Monster Beverage has a 52-week low of $43.32 and a 52-week high of $61.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.51 and a current ratio of 3.13. The business’s 50 day moving average price is $52.02 and its two-hundred day moving average price is $51.02.

Hedge Funds Weigh In On Monster Beverage

Several institutional investors have recently added to or reduced their stakes in MNST. Ninety One UK Ltd grew its stake in shares of 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 acquiring an additional 3,620,436 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Monster Beverage by 1,148.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,596,888 shares of the company’s stock valued at $135,480,000 after purchasing an additional 2,388,798 shares during the last quarter. AMF Tjanstepension AB bought a new position in Monster Beverage during the second quarter worth about $81,757,000. TD Asset Management Inc increased its stake in shares of Monster Beverage by 41.1% in the first quarter. TD Asset Management Inc now owns 4,528,763 shares of the company’s stock worth $268,465,000 after purchasing an additional 1,318,890 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Monster Beverage by 4.7% in the third quarter. Loomis Sayles & Co. L P now owns 27,142,970 shares of the company’s stock worth $1,416,048,000 after purchasing an additional 1,229,789 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

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.