Brokerages Expect Facebook, Inc. (FB) Will Announce Earnings of $1.30 Per Share
Equities research analysts expect Facebook, Inc. (NASDAQ:FB) to announce $1.30 earnings per share for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Facebook’s earnings, with estimates ranging from $1.19 to $1.48. Facebook reported earnings of $1.09 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 19.3%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Facebook will report full-year earnings of $5.35 per share for the current fiscal year, with EPS estimates ranging from $5.01 to $5.65. For the next financial year, analysts anticipate that the business will report earnings of $6.52 per share, with EPS estimates ranging from $5.72 to $7.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Facebook.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s revenue was up 44.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS.
Several equities research analysts have issued reports on FB shares. Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price target (up from $170.00) on shares of Facebook in a research note on Thursday, July 27th. Wedbush reiterated a “buy” rating on shares of Facebook in a research note on Thursday, July 27th. Credit Suisse Group reiterated a “buy” rating on shares of Facebook in a research note on Wednesday, October 11th. Finally, Macquarie set a $175.00 price target on shares of Facebook and gave the company a “buy” rating in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $185.38.
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In other news, VP David B. Fischer sold 50,533 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $169.95, for a total value of $8,588,083.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $164.21, for a total transaction of $123,157.50. Following the completion of the transaction, the vice president now owns 92,591 shares of the company’s stock, valued at $15,204,368.11. The disclosure for this sale can be found here. Insiders have sold 5,746,300 shares of company stock valued at $979,833,429 in the last quarter. Company insiders own 19.08% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FB. Arcadia Investment Management Corp MI raised its stake in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after purchasing an additional 120 shares in the last quarter. D. Scott Neal Inc. raised its stake in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after purchasing an additional 679 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after purchasing an additional 34 shares in the last quarter. Pacific Center for Financial Services raised its stake in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after purchasing an additional 88 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Facebook in the second quarter valued at approximately $138,000. Institutional investors own 57.24% of the company’s stock.
Shares of Facebook (FB) traded up 0.24% during midday trading on Thursday, reaching $174.98. 12,602,238 shares of the company were exchanged. The stock has a 50-day moving average price of $171.50 and a 200 day moving average price of $159.49. Facebook has a 52-week low of $113.55 and a 52-week high of $176.74. The company has a market capitalization of $508.18 billion, a P/E ratio of 39.16 and a beta of 0.70.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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