Meta Platforms (META) Set to Announce Earnings on Wednesday

Meta Platforms (NASDAQ:META) is scheduled to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $4.27 per share for the quarter. Meta Platforms has set its Q1 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business’s revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm posted $3.00 earnings per share. On average, analysts expect Meta Platforms to post $20 EPS for the current fiscal year and $23 EPS for the next fiscal year.

Meta Platforms Stock Down 0.1 %

META stock opened at $499.76 on Wednesday. Meta Platforms has a 1-year low of $207.13 and a 1-year high of $531.49. The business’s 50 day simple moving average is $493.16 and its 200 day simple moving average is $396.01. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.27 trillion, a PE ratio of 33.54, a PEG ratio of 1.31 and a beta of 1.20.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 13.42%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total transaction of $217,910.00. Following the completion of the sale, the insider now owns 35,286 shares of the company’s stock, valued at approximately $13,585,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $516.51, for a total value of $253,089.90. Following the transaction, the chief operating officer now directly owns 8,069 shares of the company’s stock, valued at approximately $4,167,719.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total value of $217,910.00. Following the sale, the insider now owns 35,286 shares in the company, valued at approximately $13,585,110. The disclosure for this sale can be found here. Insiders have sold a total of 1,439,788 shares of company stock valued at $684,542,792 over the last ninety days. 14.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Meta Platforms

Several institutional investors have recently added to or reduced their stakes in META. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $6,693,000. Oarsman Capital Inc. raised its stake in Meta Platforms by 8.8% during the 4th quarter. Oarsman Capital Inc. now owns 2,682 shares of the social networking company’s stock worth $949,000 after buying an additional 216 shares during the period. Harbour Investments Inc. boosted its holdings in Meta Platforms by 8.2% in the fourth quarter. Harbour Investments Inc. now owns 8,527 shares of the social networking company’s stock worth $3,018,000 after acquiring an additional 646 shares in the last quarter. Aspect Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $49,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $1,734,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on META. Citigroup lifted their target price on shares of Meta Platforms from $525.00 to $590.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Susquehanna lifted their target price on Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. UBS Group raised their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $509.28.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.