Research Analysts Issue Forecasts for Celsius Holdings, Inc.’s Q3 2024 Earnings (NASDAQ:CELH)

Celsius Holdings, Inc. (NASDAQ:CELH) – William Blair lifted their Q3 2024 earnings per share estimates for Celsius in a report released on Wednesday, June 26th. William Blair analyst J. Andersen now expects that the company will post earnings of $0.32 per share for the quarter, up from their previous estimate of $0.30. The consensus estimate for Celsius’ current full-year earnings is $1.07 per share. William Blair also issued estimates for Celsius’ FY2024 earnings at $1.05 EPS.

Celsius (NASDAQ:CELH) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. The firm had revenue of $355.70 million for the quarter, compared to the consensus estimate of $390.37 million. Celsius had a net margin of 18.63% and a return on equity of 111.29%. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share.

Several other research firms have also commented on CELH. Piper Sandler lifted their price target on Celsius from $76.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. BNP Paribas assumed coverage on shares of Celsius in a report on Monday. They set an “outperform” rating and a $87.00 price target for the company. Bank of America upped their price objective on Celsius from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, May 29th. Roth Mkm cut their target price on Celsius from $96.00 to $87.00 and set a “buy” rating for the company in a research note on Monday, June 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $68.00 price target on shares of Celsius in a report on Tuesday. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.82.

Celsius Stock Performance

Shares of Celsius stock opened at $57.54 on Friday. The business’s 50 day moving average price is $75.24 and its 200 day moving average price is $69.99. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 63.23, a PEG ratio of 1.61 and a beta of 1.93. Celsius has a one year low of $45.03 and a one year high of $99.62.

Hedge Funds Weigh In On Celsius

Several hedge funds have recently added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC grew its position in shares of Celsius by 1,350.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 145 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in shares of Celsius during the first quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in shares of Celsius by 3,116.7% during the first quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company’s stock worth $32,000 after purchasing an additional 374 shares in the last quarter. Rise Advisors LLC lifted its holdings in shares of Celsius by 1,370.0% in the 1st quarter. Rise Advisors LLC now owns 441 shares of the company’s stock valued at $37,000 after purchasing an additional 411 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Celsius in the 4th quarter valued at about $25,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Hal Kravitz sold 16,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $90.27, for a total transaction of $1,489,455.00. Following the completion of the transaction, the director now directly owns 201,282 shares of the company’s stock, valued at $18,169,726.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Jarrod Langhans sold 4,079 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $69.42, for a total value of $283,164.18. Following the transaction, the chief financial officer now owns 83,670 shares in the company, valued at approximately $5,808,371.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hal Kravitz sold 16,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $90.27, for a total value of $1,489,455.00. Following the sale, the director now owns 201,282 shares of the company’s stock, valued at approximately $18,169,726.14. The disclosure for this sale can be found here. Insiders have sold a total of 1,776,696 shares of company stock worth $107,920,209 in the last quarter. 2.20% of the stock is owned by company insiders.

About Celsius

Celsius Holdings, Inc develops, processes, markets, distributes, and sells functional energy drinks and liquid supplements in the United States, Australia, New Zealand, Canadian, European, Middle Eastern, Asia-Pacific, and internationally. The company offers CELSIUS, a fitness drink or supplement designed to accelerate metabolism and burn body fat; various flavors and carbonated and non-carbonated functional energy drinks under the CELSIUS Originals and Vibe name, as well as functional energy drink under the CELSIUS Essentials and CELSIUS On-the-Go Powder names; and CELSIUS ready-to drink products.