eBay Inc. Expected to Post Q3 2017 Earnings of $0.37 Per Share (EBAY)
eBay Inc. (NASDAQ:EBAY) – Investment analysts at SunTrust Banks issued their Q3 2017 EPS estimates for eBay in a research note issued to investors on Tuesday. SunTrust Banks analyst Y. Squali expects that the e-commerce company will post earnings per share of $0.37 for the quarter. SunTrust Banks currently has a “Hold” rating and a $38.00 target price on the stock. SunTrust Banks also issued estimates for eBay’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.61 EPS, FY2018 earnings at $2.07 EPS, FY2019 earnings at $2.25 EPS and FY2020 earnings at $2.41 EPS.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/08/18/ebay-inc-expected-to-post-q3-2017-earnings-of-0-37-per-share-ebay.html.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $32.00 price objective (up previously from $31.00) on shares of eBay in a research note on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $39.00 price objective (up previously from $38.00) on shares of eBay in a research note on Thursday, April 20th. J P Morgan Chase & Co set a $38.00 price objective on shares of eBay and gave the company a “neutral” rating in a research note on Friday, July 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $36.00 price objective on shares of eBay in a research note on Saturday, July 22nd. Finally, Atlantic Securities reissued a “neutral” rating and set a $36.00 target price on shares of eBay in a research report on Wednesday, May 31st. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.05.
Shares of eBay (NASDAQ:EBAY) opened at 34.85 on Friday. eBay has a 12 month low of $27.28 and a 12 month high of $37.48. The firm has a market capitalization of $37.30 billion, a PE ratio of 5.23 and a beta of 1.36. The firm’s 50 day moving average is $35.76 and its 200-day moving average is $34.32. eBay also saw some unusual options trading activity on Wednesday. Traders bought 2,194 put options on the company. This is an increase of approximately 231% compared to the typical volume of 663 put options.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EBAY. BlackRock Inc. raised its position in 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 last quarter. Wellington Management Group LLP raised its position in 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 last quarter. Glenview Capital Management LLC raised its position in eBay by 442.0% in the second quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after buying an additional 7,262,862 shares during the last quarter. Nordea Investment Management AB raised its position in 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 last quarter. Finally, Harding Loevner LP purchased a new position in eBay during the second quarter worth about $128,878,000. 85.71% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Harry A. Lawton III sold 34,832 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $35.00, for a total transaction of $1,219,120.00. Following the transaction, the senior vice president now directly owns 83,058 shares of the company’s stock, valued at $2,907,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 286,562 shares in the company, valued at $10,029,670. The disclosure for this sale can be found here. Insiders have sold 95,238 shares of company stock worth $3,376,547 over the last three months. Corporate insiders own 6.78% of the company’s stock.
eBay declared that its board has initiated a share repurchase program on Thursday, July 20th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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