Monster Beverage Q2 sales beat estimates as demand rises
MNST•Analyst view
The current average analyst rating on the shares is buy and the breakdown of recommendations is 14 strong buy or buy, 13 hold and no sell or strong sell.
The average consensus recommendation for the non-alcoholic beverages peer group is hold. Wall Street's median 12-month price target for Monster Beverage Corporation is $97.00, about 2.7% above its Aug. 5 closing price of $94.46.
The stock recently traded at 38 times the next 12-month earnings versus a P/E of 33 three months ago.
Outlook and stock split
Monster Beverage did not provide specific guidance for future quarters or the full year.
The company said its previously announced two-for-one stock split will take effect after the Aug. 10 close.
Q2 results beat estimates
Energy drink maker Monster Beverage said second-quarter net sales rose , beating analyst expectations. Adjusted earnings per share for the quarter rose to .
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