Facebook, Inc. (NASDAQ:FB) Posts Earnings Results, Beats Expectations By $0.20 EPS
Facebook, Inc. (NASDAQ:FB) issued its quarterly earnings data on Wednesday. The social networking company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.20, Bloomberg Earnings reports. Facebook had a return on equity of 20.27% and a net margin of 36.45%. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the company earned $0.97 EPS. The business’s quarterly revenue was up 44.8% compared to the same quarter last year.
Facebook (FB) traded up 0.20% during midday trading on Wednesday, hitting $165.61. The company had a trading volume of 31,390,773 shares. The firm has a market capitalization of $479.97 billion, a P/E ratio of 42.11 and a beta of 0.67. The company has a 50 day moving average price of $154.52 and a 200 day moving average price of $143.53. Facebook has a 1-year low of $113.55 and a 1-year high of $166.17.
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In related news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $153.17, for a total value of $114,877.50. Following the sale, the vice president now directly owns 79,830 shares in the company, valued at approximately $12,227,561.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jan Koum sold 3,600,000 shares of Facebook stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total value of $576,216,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,359,966 shares of company stock worth $2,082,892,714. 19.08% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on FB shares. Canaccord Genuity restated a “buy” rating and set a $175.00 price target on shares of Facebook in a research report on Friday, June 16th. Vetr lowered Facebook from a “buy” rating to a “hold” rating and set a $156.06 price target on the stock. in a research report on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price target on Facebook and gave the company a “buy” rating in a research report on Tuesday, June 20th. Wedbush set a $185.00 price objective on Facebook and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, Instinet reiterated a “buy” rating and set a $165.00 price objective on shares of Facebook in a research note on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have given a buy rating and five have assigned a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and a consensus price target of $168.31.
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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