Brokerages forecast that Meet Group Inc (NASDAQ:MEET) will report $50.60 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Meet Group’s earnings, with the highest sales estimate coming in at $50.70 million and the lowest estimate coming in at $50.50 million. Meet Group reported sales of $45.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Meet Group will report full year sales of $210.27 million for the current fiscal year, with estimates ranging from $209.60 million to $210.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $233.70 million, with estimates ranging from $221.70 million to $242.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Meet Group.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings results on Wednesday, July 31st. The information services provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.67 million. Meet Group had a net margin of 4.53% and a return on equity of 11.30%.

Several research firms recently commented on MEET. ValuEngine lowered shares of Meet Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. BidaskClub lowered shares of Meet Group from a “sell” rating to a “strong sell” rating in a research note on Friday, June 14th. Roth Capital set a $8.00 price target on shares of Meet Group and gave the company a “buy” rating in a research note on Sunday, July 21st. Oppenheimer began coverage on shares of Meet Group in a research note on Thursday, June 20th. They set an “outperform” rating and a $7.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $6.71.

Several large investors have recently added to or reduced their stakes in MEET. DekaBank Deutsche Girozentrale acquired a new stake in shares of Meet Group in the second quarter worth $35,000. Meritage Portfolio Management acquired a new stake in shares of Meet Group in the second quarter worth $38,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Meet Group in the fourth quarter worth $53,000. Meeder Asset Management Inc. increased its stake in shares of Meet Group by 3,841.4% in the second quarter. Meeder Asset Management Inc. now owns 15,332 shares of the information services provider’s stock worth $54,000 after acquiring an additional 14,943 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Meet Group in the second quarter worth $58,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.

Shares of NASDAQ MEET traded up $0.17 during trading hours on Friday, hitting $3.80. 1,390,950 shares of the stock were exchanged, compared to its average volume of 1,378,346. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. The company has a market cap of $289.78 million, a PE ratio of 15.83, a PEG ratio of 0.42 and a beta of 1.47. The firm has a fifty day moving average price of $3.49 and a 200-day moving average price of $4.53. Meet Group has a 12 month low of $3.05 and a 12 month high of $6.27.

Meet Group Company Profile

The Meet Group, Inc operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide. The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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