Meta Platforms (NASDAQ:META – Get Free Report) is scheduled to release its earnings results after the market close on Wednesday, April 24th. Analysts expect the company to report earnings of $4.27 per share for the current quarter. Meta Platforms has set Q1 2024 guidance in EPS. Anyone interested in participating in the company’s earnings conference call can do so using this link.
Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 in 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 for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net profit margin of 28.98%. The business’ revenue increased 24.7% year over year. In the same period last year, the company reported earnings of $3.00 per share. Analysts, on average, expect Metaplatform to post current fiscal year EPS of $20 and next fiscal year’s EPS of $23.
Metaplatform stock fell 0.1%
META stock opened Wednesday at $499.76. MetaPlatform has a 1-year low of $207.13 and a 1-year high of $531.49. His 50 day simple moving average for this company is $493.16 and his 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 company has a market capitalization of $1.27 trillion, a P/E ratio of 33.54x, a PEG ratio of 1.31x, and a beta of 1.20x.
Metaplatforms announces dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. His $0.50 dividend was issued to shareholders of record on Thursday, February 22nd. The ex-dividend date was Wednesday, February 21st. This equates to an annual dividend of $2.00 and a dividend yield of 0.40%. Meta Platforms’ payout ratio is currently 13.42%.
Insider buying and selling
In other Metaplatform news, insider Jennifer Newsted sold 566 shares of the stock in a transaction 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 and Exchange Commission, which can be accessed on the SEC’s website. In other news, COO Javier Oliván sold 490 shares of the company’s stock in a transaction on 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 documents filed with the Securities and Exchange Commission, which can be accessed on the SEC’s website. Also, insider Jennifer Newsted sold 566 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $13,585,110. Disclosures regarding this sale can be found here. Insiders sold a total of 1,439,788 shares of company stock valued at $684,542,792 over the past 90 days. 14.03% of the stock is owned by company insiders.
Hedge funds get involved in Metaplatform
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 worth approximately $6,693,000. Oarsman Capital Inc. lifted its stake in Meta Platforms by 8.8% during the 4th quarter. Ozman Capital Inc. now owns 2,682 shares of the social networking company’s stock valued at $949,000 after purchasing an additional 216 shares during the period. Harbor Investments increased its holdings in shares of Meta Platforms by 8.2% in the 4th quarter. Harbor Investments Inc. now owns 8,527 shares of the social networking company’s stock valued at $3,018,000 after acquiring an additional 646 shares in the last quarter. Aspect Partners LLC acquired a new stake in Meta Platforms during the 4th quarter valued at approximately $49,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Meta Platforms during the 4th quarter valued at approximately $1,734,000. 79.91% of the stock is held by institutional investors and hedge funds.
Wall Street analysts predict growth
Several brokerages have recently commented on META. Citigroup upped 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 increased their target price on MetaPlatform from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Susquehanna increased their target price on MetaPlatform from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. UBS Group raised their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Metaplatform from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. 1 equity research analyst has rated the stock as a “sell,” 2 have rated it a “hold,” 38 have rated it a “buy,” and 2 have rated it a “strong” buy. Based on MarketBeat data, the company has an average rating of “Moderate Buy” and an average price target of $509.28.
See the latest stock analysis for META.
Metaplatform company profile
(Get Free Report)
Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables around the world. The company operates in two segments: Family of Apps and Reality Labs. The Family of Apps segment powers Facebook, where people can share, discuss, discover, and connect about the things they care about. Community for sharing Instagram, photos, videos, private messages, feeds, stories, reels, videos, live, shop. Messenger is a messaging application that lets people connect with friends, family, communities, and businesses across platforms and devices through text, voice, and video calls. WhatsApp is a messaging application used by people and businesses to conduct private communications and transactions.
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