SunTrust Banks Brokers Lift Earnings Estimates for eBay Inc. (EBAY)
eBay Inc. (NASDAQ:EBAY) – SunTrust Banks increased their Q4 2016 earnings estimates for shares of eBay in a report released on Monday. SunTrust Banks analyst R. Peck now expects that the firm will post earnings of $0.49 per share for the quarter, up from their previous estimate of $0.48. SunTrust Banks currently has a “Hold” rating and a $33.00 price target on the stock. SunTrust Banks also issued estimates for eBay’s FY2017 earnings at $1.78 EPS.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG restated a “hold” rating on shares of eBay in a report on Sunday, July 10th. Cantor Fitzgerald restated a “hold” rating on shares of eBay in a report on Saturday, July 9th. Pacific Crest downgraded eBay to a “sell” rating in a report on Saturday, October 1st. Sanford C. Bernstein set a $41.00 price target on eBay and gave the stock a “buy” rating in a report on Wednesday. Finally, Goldman Sachs Group Inc. set a $34.00 price target on eBay and gave the stock a “buy” rating in a report on Thursday, July 21st. Three analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.45.
Shares of eBay (NASDAQ:EBAY) traded up 0.366% on Wednesday, hitting $31.575. The stock had a trading volume of 3,446,450 shares. eBay has a 52-week low of $21.52 and a 52-week high of $33.19. The firm has a market cap of $35.65 billion, a PE ratio of 19.407 and a beta of 1.17. The firm’s 50-day moving average price is $31.95 and its 200 day moving average price is $27.32.
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eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. eBay had a return on equity of 29.12% and a net margin of 22.00%. The firm earned $2.23 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of EBAY. Magellan Asset Management Ltd increased its position in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock valued at $986,781,000 after buying an additional 5,833,160 shares in the last quarter. Boston Partners increased its position in shares of eBay by 10.8% in the second quarter. Boston Partners now owns 25,328,551 shares of the e-commerce company’s stock valued at $592,941,000 after buying an additional 2,463,595 shares in the last quarter. Independent Franchise Partners LLP increased its position in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 23,263,787 shares of the e-commerce company’s stock valued at $544,605,000 after buying an additional 3,485,706 shares in the last quarter. FMR LLC increased its position in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock valued at $501,033,000 after buying an additional 13,838,953 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its position in shares of eBay by 7.7% in the first quarter. Fiduciary Management Inc. WI now owns 19,016,842 shares of the e-commerce company’s stock valued at $453,742,000 after buying an additional 1,367,451 shares in the last quarter. Institutional investors and hedge funds own 82.00% of the company’s stock.
In other news, VP Brian J. Doerger sold 23,958 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $30.56, for a total transaction of $732,156.48. Following the completion of the transaction, the vice president now directly owns 48,605 shares in the company, valued at $1,485,368.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Raymond J. Pittman sold 39,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $32.14, for a total value of $1,254,424.20. Following the transaction, the senior vice president now owns 32,738 shares of the company’s stock, valued at $1,052,199.32. The disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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