Monster Beverage Corp. (NASDAQ: MNST): One Stock To Trade As Economic Progress Advances

In the last trading session, 5.37 million shares of the Monster Beverage Corp. (NASDAQ:MNST) were traded, and its beta was 0.72. Most recently the company’s share price was $57.74, and it changed around -$1.54 or -2.60% from the last close, which brings the market valuation of the company to $60.09B. MNST currently trades at a discount to its 52-week high of $61.22, offering almost -6.03% off that amount. The share price’s 52-week low was $47.13, which indicates that the current value has risen by an impressive 18.38% since then. We note from Monster Beverage Corp.’s average daily trading volume that its 10-day average is 3.97 million shares, with the 3-month average coming to 5.24 million.

Monster Beverage Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.81. If we narrow it down even further, the data shows that 0 out of 18 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 4 recommended MNST as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Monster Beverage Corp. is expected to report earnings per share of $0.44 for the current quarter.

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Monster Beverage Corp. (NASDAQ:MNST) trade information

Instantly MNST has showed a red trend with a performance of -2.60% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 0.23% year-to-date, but still down -2.96% over the last five days. On the other hand, Monster Beverage Corp. (NASDAQ:MNST) is -2.30% down in the 30-day period. We can see from the shorts that 12.47 million shares have been sold at a short interest cover period of 2.19 day(s).

The consensus price target as assigned by Wall Street analysts is $27.68, which translates to bulls needing to decrease their stock price by -108.6% from its current value. Analyst projections state that MNST is forecast to be at a low of $23 and a high of $50.

Monster Beverage Corp. (MNST) estimates and forecasts

Monster Beverage Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.62 percent over the past six months and at a 16.77% annual growth rate that is well below the industry average of 20.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 15.80% in revenue this quarter, and will report an increase of 20.50% in the next quarter. The year-over-year growth rate is expected to be 11.60%, up from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $1.92 billion in revenue for the current quarter. 16 analysts expect Monster Beverage Corp. to make $2.08 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.7 billion and $1.85 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 12.70%. Forecasts for the next quarter put sales growth at 12.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.87%. Monster Beverage Corp. earnings are expected to increase by 18.40% in 2024, but the outlook is positive 14.30% per year for the next five years.

MNST Dividends

Monster Beverage Corp.’s next quarterly earnings report is expected to be released around May 02 and May 06.

Monster Beverage Corp. (NASDAQ:MNST)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 27.38% of Monster Beverage Corp. shares, and 68.16% of them are in the hands of institutional investors. The stock currently has a share float of 93.86%. Monster Beverage Corp. stock is held by 1,380 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 6.06% of the shares, which is about 63.49 million shares worth $3.65 billion.

Blackrock Inc., with 5.09% or 53.32 million shares worth $3.06 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 22.88 million shares worth $1.31 billion, making up 2.18% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 18.19 million shares worth around $1.04 billion, which represents about 1.74% of the total shares outstanding.