$689.56 Million in Sales Expected for Twitter, Inc. (TWTR) This Quarter
Equities research analysts forecast that Twitter, Inc. (NYSE:TWTR) will post $689.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Twitter’s earnings. The lowest sales estimate is $678.90 million and the highest is $699.76 million. Twitter posted sales of $717.21 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Twitter will report full year sales of $689.56 million for the current financial year, with estimates ranging from $2.39 billion to $2.41 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.58 billion per share, with estimates ranging from $2.52 billion to $2.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Twitter.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $590.00 million for the quarter, compared to the consensus estimate of $586.22 million. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share.
In other news, Director Evan Clark Williams sold 1,982,985 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $21.12, for a total transaction of $41,880,643.20. Following the sale, the director now owns 2,401,747 shares of the company’s stock, valued at $50,724,896.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Kaiden sold 5,926 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $19.51, for a total value of $115,616.26. The disclosure for this sale can be found here. Insiders sold 6,032,830 shares of company stock worth $122,125,443 over the last quarter. 10.79% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its position in Twitter by 78.3% in the second quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after purchasing an additional 3,667,233 shares during the period. Vanguard Group Inc. lifted its position in Twitter by 6.2% in the second quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after purchasing an additional 2,838,459 shares during the period. Renaissance Technologies LLC acquired a new stake in Twitter in the second quarter valued at about $43,694,000. Amerigo Asset Management lifted its position in Twitter by 46.2% in the third quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock valued at $115,997,000 after purchasing an additional 2,172,000 shares during the period. Finally, Apertura Capital LLC acquired a new stake in shares of Twitter during the 2nd quarter valued at approximately $35,740,000. 50.83% of the stock is currently owned by institutional investors.
Shares of Twitter (NYSE TWTR) opened at $21.01 on Friday. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.35. Twitter has a 1 year low of $14.12 and a 1 year high of $22.48.
Twitter, Inc offers products and services for users, advertisers, developers and data partners. The Company’s products and services include Twitter, Periscope, Promoted Tweets, Promoted Accounts and Promoted Trends. Its Twitter is a platform for public self-expression and conversation in real time. Periscope broadcasts can also be viewed through Twitter and on desktop or mobile Web browser.
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