Research Analysts Issue Forecasts for Facebook Inc’s Q3 2019 Earnings (FB)

Facebook Inc (NASDAQ:FB) – Equities researchers at Wedbush issued their Q3 2019 EPS estimates for Facebook in a research report issued to clients and investors on Thursday. Wedbush analyst M. Pachter anticipates that the social networking company will post earnings per share of $2.41 for the quarter. Wedbush currently has a “Outperform” rating and a $260.00 target price on the stock.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The company had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $12.58 billion.

A number of other research analysts also recently commented on FB. Credit Suisse Group reiterated a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Royal Bank of Canada reiterated a “buy” rating and issued a $195.00 price objective on shares of Facebook in a report on Friday, October 13th. Goldman Sachs Group set a $205.00 price objective on Facebook and gave the company a “buy” rating in a report on Friday, October 20th. Finally, BidaskClub downgraded Facebook from a “strong-buy” rating to a “buy” rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Facebook has an average rating of “Buy” and a consensus target price of $214.57.

Facebook (NASDAQ FB) opened at $190.28 on Monday. Facebook has a 1-year low of $130.30 and a 1-year high of $195.32. The company has a market capitalization of $552,920.00, a PE ratio of 35.30, a PEG ratio of 1.00 and a beta of 0.58.

Institutional investors and hedge funds have recently bought and sold shares of the company. Country Trust Bank increased its stake in Facebook by 550.6% in the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after purchasing an additional 479 shares in the last quarter. Armbruster Capital Management Inc. increased its stake in Facebook by 358.4% in the 4th quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock valued at $101,000 after purchasing an additional 448 shares in the last quarter. Price Wealth Management Inc. purchased a new position in Facebook in the 4th quarter valued at approximately $105,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Facebook in the 3rd quarter valued at approximately $111,000. Finally, Goodman Financial Corp purchased a new position in Facebook in the 4th quarter valued at approximately $115,000. 57.80% of the stock is owned by institutional investors and hedge funds.

In other news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $180.35, for a total value of $135,262.50. Following the completion of the sale, the vice president now directly owns 88,091 shares of the company’s stock, valued at approximately $15,887,211.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jan Koum sold 594,246 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $179.35, for a total value of $106,578,020.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,564,763 shares of company stock valued at $281,520,506 over the last ninety days. 17.23% of the stock is owned by insiders.

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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.

Earnings History and Estimates for Facebook (NASDAQ:FB)

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