Companies and Brands
Why Analysts Changed Views on Monster Beverage After Earnings
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Drinks maker Monster Beverage Corp. (NASDAQ: MNST) got thumped pretty hard after reporting quarterly results that missed consensus estimates after markets closed Thursday. Analysts were looking for $0.82 in earnings per share (EPS) on $698.40 million in revenue, nicely above the same period in 2014 when Monster posted EPS of $0.72 and $605.57 million in revenue.
Instead profits came in at $0.67 a share and revenues totaled $645.4 million. Monster’s CEO attributed the weak results to “choppy” implementation of the company’s distribution switch to Coca-Cola.
Price targets were cut by several analysts, though ratings were unchanged:
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