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

Celsius Holdings, Inc. (NASDAQ:CELH) – Investment analysts at B. Riley cut their Q3 2024 earnings per share estimates for shares of Celsius in a research note issued on Wednesday, August 7th. B. Riley analyst J. Van. Sinderen now anticipates that the company will post earnings of $0.23 per share for the quarter, down from their prior estimate of $0.28. B. Riley currently has a “Buy” rating and a $73.00 target price on the stock. The consensus estimate for Celsius’ current full-year earnings is $1.05 per share. B. Riley also issued estimates for Celsius’ Q4 2024 earnings at $0.16 EPS.

Several other equities research analysts have also weighed in on the company. Piper Sandler dropped their target price on Celsius from $90.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday. Roth Mkm decreased their target price on Celsius from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $65.00 target price on shares of Celsius in a report on Tuesday, July 9th. Morgan Stanley reduced their target price on Celsius from $68.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, UBS Group reduced their price objective on Celsius from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.79.

Celsius Price Performance

Shares of CELH stock traded down $1.51 on Thursday, hitting $38.08. 6,375,326 shares of the stock traded hands, compared to its average volume of 5,247,784. The company has a market capitalization of $8.88 billion, a PE ratio of 42.58, a PEG ratio of 1.38 and a beta of 1.90. Celsius has a 1-year low of $36.17 and a 1-year high of $99.62. The company’s fifty day moving average is $56.28 and its 200 day moving average is $69.09.

Celsius (NASDAQ:CELH) last announced its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Celsius had a return on equity of 111.29% and a net margin of 18.63%. The company had revenue of $402.00 million for the quarter, compared to analyst estimates of $391.07 million. During the same period in the prior year, the company posted $0.17 EPS. Celsius’s quarterly revenue was up 23.4% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CELH. Covestor Ltd boosted its holdings in shares of Celsius by 12.9% during the 1st quarter. Covestor Ltd now owns 1,110 shares of the company’s stock worth $92,000 after buying an additional 127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Celsius by 0.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,624 shares of the company’s stock worth $2,291,000 after purchasing an additional 181 shares in the last quarter. Moody National Bank Trust Division raised its position in Celsius by 1.1% in the 2nd quarter. Moody National Bank Trust Division now owns 17,122 shares of the company’s stock valued at $977,000 after buying an additional 181 shares during the last quarter. Bleakley Financial Group LLC raised its position in Celsius by 1.2% in the 1st quarter. Bleakley Financial Group LLC now owns 18,557 shares of the company’s stock valued at $1,539,000 after buying an additional 215 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Celsius by 4.3% in the 1st quarter. Tidal Investments LLC now owns 6,025 shares of the company’s stock valued at $500,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Insider Transactions at Celsius

In other news, Director Hal Kravitz sold 16,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 201,282 shares in the company, valued at approximately $18,169,726.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder William H. Milmoe sold 40,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $92.95, for a total value of $3,718,000.00. Following the completion of the transaction, the insider now owns 226,245 shares of the company’s stock, valued at $21,029,472.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,489,455.00. Following the transaction, the director now directly 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. 2.20% of the stock is owned by 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.