Monster Beverage Corporation (MNST), valued at a market cap of $56.3 billion, is a global leader in the energy drink industry, known for its diverse portfolio of energy drinks and beverages. The California-based company is set to announce its fiscal Q3 earnings results on Thursday, November 7.
Ahead of the event, analysts expect MNST to report a profit of $0.42 per share, up 2.4% from $0.41 per share in the year-ago quarter. In the last four quarters, the company has failed to surpass Wall Street’s bottom-line estimates in three and exceeded on one occasion.
For fiscal 2024, analysts expect MNST to report EPS of $1.66, up 7.1% from $1.55 in fiscal 2023.
MNST stock declined 6.2% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 23% gains and the Consumer Staples Select Sector SPDR Fund’s (XLP) 14.2% returns over the same time frame.
Monster Beverage announced its Q2 earnings report on Aug. 7, and its shares fell more than 10% in the following trading session. The company posted $1.9 billion in revenue, falling short of analyst expectations. Earnings per share rose to $0.41 but still missed the consensus estimate of $0.45. Management attributed the shortfall to reduced traffic in convenience stores and softness in the energy drink segment.
The consensus opinion on MNST stock is fairly optimistic, with an overall “Moderate Buy” rating. Out of 20 analysts covering the stock, 11 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, six recommend a “Hold,” and two suggest a “Strong Sell.” This configuration is less bullish than three months ago when the stock had 12 “Strong Buy” ratings.
MNST's average analyst price target is $55.76, indicating a potential marginal upside from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
