Match Group, Inc. (MTCH) Expected to Announce Quarterly Sales of $327.99 Million
Brokerages forecast that Match Group, Inc. (NASDAQ:MTCH) will announce $327.99 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Match Group’s earnings. The lowest sales estimate is $325.80 million and the highest is $330.18 million. Match Group reported sales of $316.45 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The company is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Match Group will report full year sales of $327.99 million for the current year, with estimates ranging from $1.27 billion to $1.29 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.47 billion per share, with estimates ranging from $1.45 billion to $1.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Match Group.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The firm had revenue of $309.57 million during the quarter, compared to analyst estimates of $310.36 million. During the same period in the prior year, the business earned $0.17 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Aegis upped their target price on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Vetr lowered shares of Match Group from a “buy” rating to a “hold” rating and set a $20.78 target price on the stock. in a report on Tuesday, May 30th. Finally, Jefferies Group LLC upped their target price on shares of Match Group from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $20.62.
Match Group (NASDAQ:MTCH) traded up 3.25% during mid-day trading on Friday, hitting $18.76. The company’s stock had a trading volume of 1,089,264 shares. Match Group has a 52-week low of $14.32 and a 52-week high of $20.75. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 26.69 and a beta of 0.64. The firm has a 50 day moving average of $18.23 and a 200-day moving average of $17.83.
Match Group announced that its board has approved a stock buyback plan on Tuesday, May 2nd that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Match Group news, insider Amarnath Thombre sold 116,126 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $19.63, for a total value of $2,279,553.38. Following the completion of the sale, the insider now owns 50,000 shares in the company, valued at approximately $981,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 18.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTCH. Vanguard Group Inc. increased its position in Match Group by 34.8% in the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after buying an additional 1,617,950 shares in the last quarter. JPMorgan Chase & Co. increased its position in Match Group by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock worth $93,457,000 after buying an additional 20,060 shares in the last quarter. Schroder Investment Management Group increased its position in Match Group by 58.6% in the first quarter. Schroder Investment Management Group now owns 4,911,935 shares of the technology company’s stock worth $80,801,000 after buying an additional 1,815,822 shares in the last quarter. Mik Capital LLC bought a new position in Match Group during the second quarter worth $23,043,000. Finally, Artisan Partners Limited Partnership increased its position in Match Group by 16.5% in the second quarter. Artisan Partners Limited Partnership now owns 701,274 shares of the technology company’s stock worth $12,188,000 after buying an additional 99,371 shares in the last quarter. 20.89% of the stock is owned by hedge funds and other institutional investors.
About Match Group
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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