$0.46 EPS Expected for Weibo Corporation (WB) This Quarter
Wall Street brokerages forecast that Weibo Corporation (NASDAQ:WB) will announce $0.46 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Weibo Corporation’s earnings. Weibo Corporation reported earnings of $0.24 per share during the same quarter last year, which suggests a positive year over year growth rate of 91.7%. The firm is expected to report its next quarterly earnings results on Monday, November 20th.
According to Zacks, analysts expect that Weibo Corporation will report full-year earnings of $1.67 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.68. For the next financial year, analysts forecast that the business will post earnings of $2.97 per share, with EPS estimates ranging from $2.81 to $3.13. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Weibo Corporation.
Weibo Corporation (NASDAQ:WB) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The business had revenue of $253.37 million during the quarter, compared to analysts’ expectations of $246.78 million. During the same period last year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was up 72.5% on a year-over-year basis.
WB has been the subject of a number of research analyst reports. Citigroup Inc. reissued a “buy” rating and set a $126.00 target price (up previously from $102.00) on shares of Weibo Corporation in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 target price for the company in a research report on Tuesday, August 15th. Instinet reissued a “buy” rating and set a $102.00 target price (up previously from $91.00) on shares of Weibo Corporation in a research report on Friday, August 11th. Barclays PLC set a $100.00 target price on shares of Weibo Corporation and gave the stock an “overweight” rating in a research report on Friday, August 11th. Finally, Jefferies Group LLC dropped their target price on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $85.28.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harding Loevner LP boosted its holdings in Weibo Corporation by 23.7% in the 2nd quarter. Harding Loevner LP now owns 3,505,901 shares of the information services provider’s stock worth $233,037,000 after acquiring an additional 672,381 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Weibo Corporation by 30.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,707,419 shares of the information services provider’s stock valued at $113,491,000 after buying an additional 396,281 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Weibo Corporation by 36.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,239,263 shares of the information services provider’s stock valued at $82,378,000 after buying an additional 334,095 shares during the last quarter. BT Investment Management Ltd purchased a new position in shares of Weibo Corporation during the 2nd quarter valued at approximately $63,749,000. Finally, State Street Corp boosted its stake in shares of Weibo Corporation by 7.5% during the 2nd quarter. State Street Corp now owns 551,325 shares of the information services provider’s stock valued at $36,645,000 after buying an additional 38,294 shares during the last quarter. Hedge funds and other institutional investors own 19.56% of the company’s stock.
Shares of Weibo Corporation (NASDAQ WB) traded down 1.64% during midday trading on Thursday, hitting $101.50. 948,610 shares of the company’s stock were exchanged. Weibo Corporation has a one year low of $40.12 and a one year high of $108.30.
About Weibo Corporation
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.
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