Facebook, Inc. (FB) Set to Announce Earnings on Tuesday
Facebook, Inc. (NASDAQ:FB) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, October 31st. Analysts expect Facebook to post earnings of $1.27 per share for the quarter.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was up 44.8% on a year-over-year basis. On average, analysts expect Facebook to post $5.35 EPS for the current fiscal year and $6.52 EPS for the next fiscal year.
Shares of Facebook, Inc. (NASDAQ:FB) opened at 171.27 on Tuesday. The firm’s 50-day moving average is $171.48 and its 200-day moving average is $159.97. Facebook, Inc. has a 1-year low of $113.55 and a 1-year high of $176.74. The stock has a market capitalization of $497.40 billion, a price-to-earnings ratio of 38.33 and a beta of 0.70.
FB has been the topic of several recent analyst reports. Cowen and Company reiterated an “average” rating and set a $200.00 price objective (up previously from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) set a $180.00 price objective on Facebook and gave the company a “buy” rating in a report on Wednesday, July 19th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price objective (up previously from $165.00) on shares of Facebook in a report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $185.00 price objective on shares of Facebook in a report on Tuesday, July 11th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $170.00 price objective on shares of Facebook in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $185.38.
In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $169.93, for a total transaction of $127,447.50. Following the completion of the transaction, the vice president now directly owns 83,156 shares in the company, valued at $14,130,699.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $169.95, for a total value of $2,719,200.00. Following the transaction, the insider now owns 180,871 shares of the company’s stock, valued at $30,739,026.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,745,550 shares of company stock worth $979,709,461. Corporate insiders own 19.08% of the company’s stock.
A number of hedge funds have recently modified their holdings of FB. Mountain Capital Investment Advisors Inc bought a new stake in Facebook during the second quarter worth about $138,000. Odey Holdings AG lifted its stake in shares of Facebook by 5.4% in the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after acquiring an additional 54 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Facebook in the 2nd quarter valued at about $165,000. Lenox Wealth Management Inc. lifted its stake in shares of Facebook by 9.4% in the 2nd quarter. Lenox Wealth Management Inc. now owns 1,140 shares of the social networking company’s stock valued at $172,000 after acquiring an additional 98 shares during the last quarter. Finally, Corbenic Partners LLC lifted its stake in shares of Facebook by 22.5% in the 2nd quarter. Corbenic Partners LLC now owns 1,225 shares of the social networking company’s stock valued at $185,000 after acquiring an additional 225 shares during the last quarter. 57.24% of the stock is owned by hedge funds and other institutional investors.
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Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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