Analyst Estimates: Here's What Brokers Think Of Monster Beverage Corporation (NASDAQ:MNST) After Its Annual Report

Investors in Monster Beverage Corporation (NASDAQ:MNST) had a good week, as its shares rose 6.3% to close at US$58.79 following the release of its full-year results. Results were roughly in line with estimates, with revenues of US$7.1b and statutory earnings per share of US$1.54. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

Check out our latest analysis for Monster Beverage

Taking into account the latest results, the current consensus from Monster Beverage's 22 analysts is for revenues of US$7.97b in 2024. This would reflect a decent 12% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to grow 16% to US$1.82. Before this earnings report, the analysts had been forecasting revenues of US$8.01b and earnings per share (EPS) of US$1.82 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The analysts reconfirmed their price target of US$63.70, showing that the business is executing well and in line with expectations. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Monster Beverage at US$72.00 per share, while the most bearish prices it at US$50.00. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 12% growth on an annualised basis. That is in line with its 13% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 5.0% per year. So although Monster Beverage is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at US$63.70, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Monster Beverage going out to 2026, and you can see them free on our platform here..

We also provide an overview of the Monster Beverage Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.