MakeMyTrip Limited (MMYT) Expected to Post Earnings of -$0.72 Per Share
Equities analysts expect MakeMyTrip Limited (NASDAQ:MMYT) to post ($0.72) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for MakeMyTrip Limited’s earnings. MakeMyTrip Limited reported earnings per share of ($0.61) in the same quarter last year, which would suggest a negative year over year growth rate of 18%. The company is expected to report its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that MakeMyTrip Limited will report full year earnings of ($2.17) per share for the current financial year, with EPS estimates ranging from ($2.26) to ($2.04). For the next year, analysts anticipate that the firm will report earnings of ($1.37) per share, with EPS estimates ranging from ($1.57) to ($1.16). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MakeMyTrip Limited.
MakeMyTrip Limited (NASDAQ:MMYT) last issued its earnings results on Wednesday, August 9th. The technology company reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by $0.14. The firm had revenue of $141.21 million during the quarter, compared to analysts’ expectations of $110.67 million. MakeMyTrip Limited had a negative return on equity of 16.91% and a negative net margin of 31.64%. The firm’s quarterly revenue was up 139.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.73) EPS.
Several equities analysts have weighed in on MMYT shares. Zacks Investment Research upgraded MakeMyTrip Limited from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Saturday, July 1st. TheStreet upgraded MakeMyTrip Limited from a “d” rating to a “c-” rating in a report on Tuesday, July 25th. ValuEngine upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC cut MakeMyTrip Limited from a “buy” rating to a “hold” rating and raised their price target for the company from $19.80 to $32.00 in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.30.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Horseman Capital Management Ltd purchased a new position in MakeMyTrip Limited during the first quarter valued at $22,715,000. Jennison Associates LLC purchased a new position in MakeMyTrip Limited during the first quarter valued at $492,000. First Trust Advisors LP boosted its position in MakeMyTrip Limited by 34.9% in the first quarter. First Trust Advisors LP now owns 158,516 shares of the technology company’s stock valued at $5,485,000 after buying an additional 41,024 shares in the last quarter. American Century Companies Inc. purchased a new position in MakeMyTrip Limited during the first quarter valued at $1,754,000. Finally, Comerica Bank boosted its position in MakeMyTrip Limited by 1.2% in the first quarter. Comerica Bank now owns 75,613 shares of the technology company’s stock valued at $2,938,000 after buying an additional 863 shares in the last quarter. Institutional investors and hedge funds own 42.56% of the company’s stock.
Shares of MakeMyTrip Limited (MMYT) opened at 30.15 on Monday. The stock’s market cap is $2.94 billion. MakeMyTrip Limited has a 52 week low of $17.71 and a 52 week high of $40.90. The firm has a 50-day moving average price of $32.19 and a 200 day moving average price of $33.79.
About MakeMyTrip Limited
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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