NEW YORK (TheStreet) -- Monster Beverage (MNST) shares are falling 0.63% to $99.85 in after-hours trading on Thursday after the company reported its third quarter financial results after the closing bell today.
The energy drink manufacturer reported a 31.9% increase in net income to $121.6 million, or 70 cents per diluted share, which is 17 cents better than it reported last year and 4 cents better than analysts were expecting this year.
The company reported a 7.7% rise in net sales to $636 million from $590.4 million during the same period last year, a total that is is below analysts' $641.8 million revenue expectations for the period.
TheStreet Ratings team rates MONSTER BEVERAGE CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate MONSTER BEVERAGE CORP (MNST) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: MNST Ratings Report