MeetMe, Inc. (MEET) Expected to Post Earnings of $0.04 Per Share
Equities research analysts expect MeetMe, Inc. (NASDAQ:MEET) to report earnings per share of $0.04 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for MeetMe’s earnings. The highest EPS estimate is $0.06 and the lowest is $0.02. MeetMe reported earnings of $0.08 per share during the same quarter last year, which indicates a negative year over year growth rate of 50%. The business is scheduled to issue its next earnings report on Monday, August 7th.
On average, analysts expect that MeetMe will report full-year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.43 to $0.45. For the next year, analysts anticipate that the business will report earnings of $0.56 per share, with EPS estimates ranging from $0.53 to $0.60. Zacks’ EPS calculations are an average based on a survey of analysts that cover MeetMe.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings data on Monday, May 8th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. MeetMe had a return on equity of 13.16% and a net margin of 53.53%. The company had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $20.05 million. During the same period in the previous year, the firm posted $0.04 EPS. MeetMe’s revenue was up 51.1% compared to the same quarter last year.
Several research firms have recently commented on MEET. Roth Capital set a $9.00 price target on shares of MeetMe and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of MeetMe from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine lowered shares of MeetMe from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Loop Capital reiterated a “buy” rating and issued a $9.00 price target on shares of MeetMe in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. MeetMe presently has an average rating of “Buy” and a consensus target price of $8.70.
In related news, Director Jason Whitt sold 4,329 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $5.97, for a total transaction of $25,844.13. Following the sale, the director now owns 20,888 shares in the company, valued at $124,701.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Eagle Global Advisors LLC increased its position in MeetMe by 16.2% in the first quarter. Eagle Global Advisors LLC now owns 84,693 shares of the information services provider’s stock worth $499,000 after buying an additional 11,783 shares in the last quarter. Bank of New York Mellon Corp increased its position in MeetMe by 8.3% in the first quarter. Bank of New York Mellon Corp now owns 325,789 shares of the information services provider’s stock worth $1,919,000 after buying an additional 25,037 shares in the last quarter. American Century Companies Inc. increased its position in MeetMe by 5.4% in the first quarter. American Century Companies Inc. now owns 385,582 shares of the information services provider’s stock worth $2,271,000 after buying an additional 19,709 shares in the last quarter. Algert Global LLC bought a new position in MeetMe during the first quarter worth $134,000. Finally, LSV Asset Management bought a new position in MeetMe during the first quarter worth $553,000. 52.42% of the stock is currently owned by institutional investors.
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MeetMe (MEET) remained flat at $5.35 during midday trading on Thursday. The stock had a trading volume of 419,626 shares. MeetMe has a 52-week low of $4.50 and a 52-week high of $8.11. The stock has a market cap of $371.91 million, a PE ratio of 7.29 and a beta of 0.86. The stock’s 50-day moving average price is $4.91 and its 200 day moving average price is $5.14.
MeetMe Company Profile
The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.
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