B. Riley's Earnings Forecast for Celsius Holdings in FY2024

Celsius Holdings, Inc. (NASDAQ:CELH) has recently received an updated earnings forecast from research analysts at B. Riley. On November 6th, B. Riley revised its FY2024 earnings per share (EPS) estimate for Celsius, adjusting it downward from $0.65 to $0.59. The analyst responsible for this forecast, J. Van. Sinderen, still maintains a 'Buy' rating on the stock, along with a price target of $47.00. In contrast, the broader market consensus predicts that Celsius will report full-year earnings of $0.74 per share.

Additionally, B. Riley has provided specific projections for Celsius’s Q4 2024 earnings, estimating an EPS of $0.03. Furthermore, the forecast extends to FY2026, where earnings are expected to reach $1.01 per share.

Market Reaction and Analyst Updates

Other research firms have also analyzed Celsius Holdings and provided their insights. Bank of America, for instance, has reduced its price target for Celsius from $32.00 to $26.00 while assigning it an 'underperform' rating. Maxim Group has also lowered its forecast, bringing their target down from $65.00 to $50.00 while maintaining a 'buy' rating. Jefferies Financial Group has reduced its target from $53.00 to $48.00 with a 'buy' recommendation. Meanwhile, Morgan Stanley kept its rating at 'equal weight' and set a target price of $50.00. UBS Group similarly lowered its target from $50.00 to $45.00 while maintaining a 'buy' rating.

The overall sentiment from equities research analysts towards Celsius appears cautiously optimistic. While one analyst rates the stock as a sell, three have labeled it as hold, and eleven have issued buy ratings. According to MarketBeat.com, Celsius currently enjoys a 'Moderate Buy' average rating backed by a target price average of $54.40.

Celsius Stock Performance

On Friday, Celsius stock opened at $28.90, reflecting a 3.7% decrease. The company's 50-day moving average stands at $32.15, while the 200-day moving average is $51.06. Celsius Holdings has a market capitalization of $6.79 billion, with a price-to-earnings ratio of 40.14. The PEG ratio is 2.51, and the stock has shown significant volatility with a beta of 1.86. Over the past year, Celsius reached a low of $27.78 and a high of $99.62.

Institutional and Insider Activity

Recent trading activity reveals that several institutional investors have made significant moves regarding Celsius stock. Massachusetts Financial Services Co. MA increased its stake by an impressive 231.2%, acquiring an additional 2,754,722 shares during the last quarter. This raised their total holdings in Celsius to 3,946,208 shares worth approximately $225 million. Similarly, Vanguard Group Inc. boosted its position by 18.7%, now holding 16,313,762 shares valued at over $1.35 billion. Capital International Investors also made headlines with a 50.6% increase in shares held, totaling nearly 4 million shares worth around $329 million.

On the insider front, CEO John Fieldly recently sold 74,847 shares at an average price of $32.80, amounting to a total transaction value of about $2.45 million. Despite the sale, he retains ownership of 1,812,490 shares with an approximate value of $59.45 million. Notably, only 2.20% of Celsius stock is owned by insiders.

Company Overview

Celsius Holdings, Inc. specializes in developing, processing, marketing, distributing, and selling functional energy drinks and liquid supplements on a global scale, including markets in the United States, Australia, New Zealand, Canada, Europe, the Middle East, and Asia-Pacific. The product range includes the CELSIUS fitness drink aimed at boosting metabolism and aiding fat burning, and various flavors of carbonated and non-carbonated functional energy drinks marketed under names like CELSIUS Originals and Vibe.

Celsius, Earnings, Forecast