Why Analysts Changed Views on Monster Beverage After Earnings

Companies and Brands

Published: February 28, 2016 11:05 am

Last Updated: January 13, 2020 12:36 pm

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:

Cowen cut its price target from $170 to $165 and has an Outperform rating.
Goldman Sachs cut its price target from $174 to $157 and maintains a Buy rating.
Stifel lowered its price target from $170 to $160.
SunTrust Robinson cut its price target from $155 to $130 with a Neutral rating.
Susquehanna cut its price target from $131 to $117 and has a Neutral rating on the stock.
UBS lowered its price target from $175 to $165 with a Buy rating.

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Shares closed at $130.79 on Friday, down about 1.7%, after dropping as low as $126.64 earlier in the day. The stock’s 52-week range is $113.08 to $160.50, and the consensus price target is $154.60, although some of these recent changes may not yet be included in that number.

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