Monster Beverage Rises on Heavy Volume

Loading...
Loading...
Shares of Monster Beverage
MNST
were hit by a sharp sell-off last week after the company reported second-quarter earnings results last Wednesday. The company reported earnings per share of $0.59 versus $0.45 in the year ago period. This missed analysts' consensus earnings per share estimate of $0.61. Revenues came in at $592.6 million compared to $462.1 million in last year's second quarter. This also missed analysts' consensus estimates near $596.1 million. On Tuesday, however, shares of Monster Beverage rallied after its board of directors announced authorization of a $250 million increase to the company's share repurchase program. Shares of Monster Beverage gained close to 10 percent Tuesday to $58.59. Nevertheless, shares are still down more than 14 percent over the last 5 trading sessions.
Posted In: NewsBuybacksIntraday UpdateMovers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...