Yahoo’s (YHOO) “Neutral” Rating Reiterated at SunTrust Banks Inc.
Yahoo Inc. (NASDAQ:YHOO)‘s stock had its “neutral” rating restated by equities researchers at SunTrust Banks Inc. in a note issued to investors on Saturday. They currently have a $42.00 price objective on the digital content provider’s stock. SunTrust Banks Inc.’s price objective points to a potential downside of 2.82% from the stock’s previous close.
Several other research analysts also recently weighed in on YHOO. Cantor Fitzgerald restated a “buy” rating on shares of Yahoo in a research note on Saturday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Yahoo in a research note on Tuesday, July 5th. Vetr downgraded Yahoo from a “strong-buy” rating to a “buy” rating and set a $41.87 price target for the company. in a research note on Monday, July 4th. Citigroup Inc. upgraded Yahoo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $38.00 to $43.00 in a research note on Wednesday, June 15th. They noted that the move was a valuation call. Finally, Bank of America Corp. restated a “buy” rating and issued a $48.00 price target on shares of Yahoo in a research note on Monday, June 13th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $40.61.
Yahoo (NASDAQ:YHOO) opened at 43.22 on Friday. The firm’s 50-day moving average is $43.17 and its 200-day moving average is $38.95. Yahoo has a 12 month low of $26.15 and a 12 month high of $44.92. The company’s market cap is $41.14 billion.
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Yahoo (NASDAQ:YHOO) last announced its quarterly earnings data on Monday, July 18th. The digital content provider reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.01. The company had revenue of $842 million for the quarter, compared to the consensus estimate of $1.08 billion. Yahoo had a negative net margin of 100.08% and a positive return on equity of 0.32%. The company’s revenue was down 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. On average, analysts anticipate that Yahoo will post $0.49 EPS for the current fiscal year.
In other Yahoo news, CRO Lisa Utzschneider sold 732 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $42.84, for a total value of $31,358.88. Following the completion of the sale, the executive now owns 612,081 shares of the company’s stock, valued at $26,221,550.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.20% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Yahoo by 2.2% in the second quarter. Vanguard Group Inc. now owns 53,298,983 shares of the digital content provider’s stock valued at $2,001,909,000 after buying an additional 1,126,726 shares during the last quarter. State Street Corp boosted its position in shares of Yahoo by 9.9% in the first quarter. State Street Corp now owns 36,235,550 shares of the digital content provider’s stock valued at $1,333,822,000 after buying an additional 3,253,009 shares during the last quarter. Canyon Capital Advisors LLC boosted its position in shares of Yahoo by 66.9% in the second quarter. Canyon Capital Advisors LLC now owns 18,572,403 shares of the digital content provider’s stock valued at $697,579,000 after buying an additional 7,445,247 shares during the last quarter. TCI Fund Management Ltd. purchased a new position in shares of Yahoo during the first quarter valued at about $530,211,000. Finally, Natixis boosted its position in shares of Yahoo by 33.7% in the first quarter. Natixis now owns 14,099,072 shares of the digital content provider’s stock valued at $518,987,000 after buying an additional 3,552,539 shares during the last quarter. 73.65% of the stock is owned by institutional investors and hedge funds.
Yahoo! Inc (Yahoo), along with its subsidiaries, is engaged in digital information discovery. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific. The Company focuses on informing, connecting and entertaining its users with its search (Yahoo search), communications, including Yahoo Mail and Yahoo Messenger, and digital content products, including Tumblr, and its four verticals, such as Yahoo News, Yahoo Sports, Yahoo Finance and Yahoo Lifestyle.
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