Analysts Anticipate eBay Inc. (EBAY) Will Post Quarterly Sales of $2.37 Billion
Analysts expect that eBay Inc. (NASDAQ:EBAY) will report sales of $2.37 billion for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for eBay’s earnings. The highest sales estimate is $2.39 billion and the lowest is $2.35 billion. eBay posted sales of $2.22 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The company is scheduled to announce its next earnings results on Wednesday, October 18th.
On average, analysts expect that eBay will report full year sales of $2.37 billion for the current year, with estimates ranging from $9.40 billion to $9.56 billion. For the next year, analysts expect that the firm will post sales of $10.07 billion per share, with estimates ranging from $9.95 billion to $10.32 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for eBay.
eBay (NASDAQ:EBAY) last released its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue was up 4.4% compared to the same quarter last year.
EBAY has been the topic of a number of research reports. Credit Suisse Group raised shares of eBay from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $34.00 to $44.00 in a research report on Monday, June 5th. Robert W. Baird reissued an “outperform” rating on shares of eBay in a research report on Monday, July 3rd. UBS Group AG set a $40.00 price objective on shares of eBay and gave the stock a “buy” rating in a research report on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and issued a $34.00 price objective on shares of eBay in a research report on Thursday, April 13th. Finally, BidaskClub raised shares of eBay from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have given a buy rating to the stock. eBay currently has an average rating of “Hold” and an average price target of $36.97.
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eBay (NASDAQ EBAY) opened at 34.99 on Friday. eBay has a 12-month low of $27.28 and a 12-month high of $37.48. The stock’s 50 day moving average is $35.77 and its 200-day moving average is $34.17. The company has a market cap of $37.45 billion, a P/E ratio of 5.25 and a beta of 1.36.
eBay declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 20th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Robert Holmes Swan sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $35.00, for a total value of $875,000.00. Following the completion of the transaction, the director now owns 286,562 shares in the company, valued at approximately $10,029,670. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Harry A. Lawton III sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $35.93, for a total transaction of $467,090.00. Following the completion of the transaction, the senior vice president now owns 45,488 shares of the company’s stock, valued at approximately $1,634,383.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,303 shares of company stock valued at $2,560,022. 6.78% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after buying an additional 59,937,723 shares during the period. Wellington Management Group LLP raised its position in shares of eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after buying an additional 23,404,909 shares during the period. Boston Partners raised its position in shares of eBay by 1.9% in the first quarter. Boston Partners now owns 29,574,853 shares of the e-commerce company’s stock worth $992,828,000 after buying an additional 544,112 shares during the period. Independent Franchise Partners LLP raised its position in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock worth $674,744,000 after buying an additional 2,898,085 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of eBay by 46.7% in the first quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after buying an additional 4,749,434 shares during the period. Institutional investors and hedge funds own 86.48% of the company’s stock.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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