Match Group Inc (MTCH) Expected to Post Quarterly Sales of $362.52 Million

Analysts forecast that Match Group Inc (NASDAQ:MTCH) will post sales of $362.52 million for the current quarter, according to Zacks. Four analysts have issued estimates for Match Group’s earnings, with the lowest sales estimate coming in at $361.90 million and the highest estimate coming in at $363.09 million. Match Group posted sales of $319.68 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, February 6th.

On average, analysts expect that Match Group will report full-year sales of $362.52 million for the current year. For the next fiscal year, analysts expect that the business will post sales of $1.55 billion per share, with estimates ranging from $1.51 billion to $1.58 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Match Group.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 31.18%. Match Group’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS.

MTCH has been the subject of a number of recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $29.00 price objective (up previously from $21.00) on shares of Match Group in a research report on Thursday, October 19th. Jefferies Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Match Group in a research report on Saturday, September 30th. Bank of America lifted their price objective on Match Group from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Citigroup lifted their price objective on Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Cowen reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Match Group in a research report on Friday, November 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Match Group currently has an average rating of “Buy” and a consensus target price of $32.77.

In other news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $30.62, for a total value of $340,463.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MTCH. Schwab Charles Investment Management Inc. boosted its position in shares of Match Group by 15.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 119,865 shares of the technology company’s stock worth $2,084,000 after buying an additional 16,401 shares during the period. Rhumbline Advisers boosted its position in shares of Match Group by 19.9% in the second quarter. Rhumbline Advisers now owns 44,300 shares of the technology company’s stock worth $770,000 after buying an additional 7,359 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Match Group by 17.8% in the second quarter. Bank of New York Mellon Corp now owns 284,405 shares of the technology company’s stock worth $4,943,000 after buying an additional 42,952 shares during the period. Principal Financial Group Inc. boosted its position in shares of Match Group by 65.3% in the second quarter. Principal Financial Group Inc. now owns 80,695 shares of the technology company’s stock worth $1,402,000 after buying an additional 31,874 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Match Group by 37.6% in the second quarter. Alliancebernstein L.P. now owns 44,157 shares of the technology company’s stock worth $767,000 after buying an additional 12,070 shares during the period. 20.97% of the stock is owned by institutional investors.

Shares of Match Group (MTCH) opened at $33.83 on Tuesday. The company has a market capitalization of $9,240.00 and a price-to-earnings ratio of 22.55. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.92 and a quick ratio of 0.92. Match Group has a 1 year low of $15.42 and a 1 year high of $33.95.

ILLEGAL ACTIVITY NOTICE: “Match Group Inc (MTCH) Expected to Post Quarterly Sales of $362.52 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/01/23/match-group-inc-mtch-expected-to-post-quarterly-sales-of-362-52-million.html.

Match Group Company Profile

Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.

Get a free copy of the Zacks research report on Match Group (MTCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Match Group (NASDAQ:MTCH)

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply