Zacks: Brokerages Anticipate Yelp Inc. (NYSE:YELP) to Announce $0.01 Earnings Per Share
Equities analysts expect Yelp Inc. (NYSE:YELP) to announce $0.01 earnings per share (EPS) for the current quarter, according to Zacks. Fourteen analysts have made estimates for Yelp’s earnings. The lowest EPS estimate is ($0.05) and the highest is $0.26. Yelp posted earnings per share of $0.02 in the same quarter last year, which suggests a negative year-over-year growth rate of 50%. The firm is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Yelp will report full year earnings of ($0.07) per share for the current financial year, with EPS estimates ranging from ($0.14) to $0.06. For the next year, analysts expect that the firm will report earnings of $0.19 per share, with EPS estimates ranging from $0.01 to $0.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Yelp.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a net margin of 1.67% and a return on equity of 1.64%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
YELP has been the subject of a number of research analyst reports. Cantor Fitzgerald restated a “buy” rating and issued a $46.00 price target on shares of Yelp in a research report on Friday, May 5th. Vetr raised Yelp from a “hold” rating to a “buy” rating and set a $36.94 price objective on the stock in a research note on Wednesday, May 3rd. Maxim Group reaffirmed a “buy” rating and set a $41.00 price objective (down previously from $45.00) on shares of Yelp in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) raised Yelp from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $42.00 to $34.00 in a research note on Wednesday, May 10th. They noted that the move was a valuation call. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective (down previously from $45.00) on shares of Yelp in a research note on Wednesday, May 10th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $37.25.
In other Yelp news, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $35.66, for a total transaction of $142,640.00. Following the sale, the director now directly owns 9,590 shares in the company, valued at approximately $341,979.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles Baker sold 12,176 shares of Yelp stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $343,728.48. Following the sale, the chief financial officer now owns 116,862 shares in the company, valued at $3,299,014.26. The disclosure for this sale can be found here. Insiders have sold a total of 52,251 shares of company stock worth $1,534,950 over the last 90 days. 10.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Pier 88 Investment Partners LLC raised its position in shares of Yelp by 1.7% in the second quarter. Pier 88 Investment Partners LLC now owns 17,580 shares of the local business review company’s stock valued at $528,000 after buying an additional 300 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Yelp by 11.8% in the first quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock valued at $202,000 after buying an additional 653 shares during the last quarter. Millie Capital Management LLC raised its position in shares of Yelp by 1.2% in the first quarter. Millie Capital Management LLC now owns 64,378 shares of the local business review company’s stock valued at $2,108,000 after buying an additional 775 shares during the last quarter. United Capital Financial Advisers LLC raised its position in shares of Yelp by 12.7% in the first quarter. United Capital Financial Advisers LLC now owns 11,447 shares of the local business review company’s stock valued at $375,000 after buying an additional 1,292 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Yelp by 2.0% in the second quarter. BNP Paribas Arbitrage SA now owns 100,798 shares of the local business review company’s stock valued at $3,026,000 after buying an additional 1,986 shares during the last quarter. Institutional investors own 94.79% of the company’s stock.
Shares of Yelp (YELP) traded up 1.52% on Monday, hitting $40.66. 1,128,186 shares of the stock traded hands. The firm’s 50 day moving average is $31.06 and its 200-day moving average is $33.37. Yelp has a 12 month low of $26.93 and a 12 month high of $43.41. The company has a market cap of $3.28 billion, a PE ratio of 549.46 and a beta of 1.48.
Yelp announced that its board has initiated a stock repurchase program on Thursday, August 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Yelp Company Profile
Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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