Can Monster Beverage Stock Get Back to All-Time Highs in 2018?

Monster Beverage Corp. (NASDAQ:MNST) stock was up marginally in mid-afternoon trading on August 13. Indexes in the United States experienced general weakness as trading opened on Monday due to the ongoing Turkish currency crisis that is rattling global markets.

Monster stock has been on a tear over the past three months. Shares are up over 20% during this period and the company received another bump following the release of its second quarter results. The stock is still down 4% in 2018 so far. Is it worth jumping in on Monster stock ahead of the fall season? Let’s take a look at the most recent results.

Profit at Monster climbed to $270.12 million or $0.48 per share compared to $222.63 million or $0.39 per share in the prior year. This beat consensus EPS estimates. Revenue also increased 12.1% year-over-year to $1.02 billion from $910 million in Q2 2017.

Net sales for the Monster Energy Drinks segment rose 14% to $929.4 million. The company pointed out that net sales year-to-date have been negatively impacted by $22.2 million due to the adoption of ASC 606.

In the second quarter Monster repurchased 10.6 million shares for a total of $553.2 million. After tax reform 2018 is set to be a record year for share buybacks.

Monster stock has been on a roll since falling below the $50 mark in May. The stock is worth monitoring during what may be a period of broader volatility. Investors should look for entry points in the near term.