Wall Street analysts forecast that Zynga Inc (NASDAQ:ZNGA) will report earnings per share of $0.02 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Zynga’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.02. The firm is expected to report its next earnings results on Thursday, May 3rd.
On average, analysts expect that Zynga will report full year earnings of $0.12 per share for the current fiscal year, with EPS estimates ranging from $0.10 to $0.15. For the next fiscal year, analysts anticipate that the company will post earnings of $0.17 per share, with EPS estimates ranging from $0.10 to $0.21. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Zynga.
Zynga (NASDAQ:ZNGA) last issued its earnings results on Wednesday, February 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.02). The company had revenue of $233.30 million for the quarter, compared to analysts’ expectations of $218.64 million. Zynga had a net margin of 3.09% and a return on equity of 1.66%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share.
Several research firms recently weighed in on ZNGA. Zacks Investment Research downgraded Zynga from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 13th. Consumer Edge began coverage on Zynga in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $4.50 price objective for the company. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Wedbush set a $6.00 price objective on Zynga and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Credit Suisse Group lifted their price objective on Zynga from $3.80 to $4.00 and gave the company an “underperform” rating in a report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Zynga presently has an average rating of “Hold” and a consensus price target of $4.24.
In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $3.62, for a total value of $43,440.00. Following the completion of the transaction, the director now directly owns 235,900 shares in the company, valued at $853,958. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew S. Bromberg sold 50,000 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $3.95, for a total transaction of $197,500.00. Following the completion of the transaction, the chief operating officer now owns 294,206 shares of the company’s stock, valued at $1,162,113.70. The disclosure for this sale can be found here. Insiders sold 268,000 shares of company stock valued at $1,051,000 over the last quarter. 12.43% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Bourgeon Capital Management LLC increased its holdings in shares of Zynga by 147.1% during the fourth quarter. Bourgeon Capital Management LLC now owns 25,200 shares of the company’s stock valued at $101,000 after acquiring an additional 15,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Zynga by 23.2% during the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after acquiring an additional 5,815 shares in the last quarter. Crow Point Partners LLC acquired a new position in shares of Zynga during the fourth quarter valued at about $114,000. Sawtooth Solutions LLC increased its holdings in shares of Zynga by 98.6% during the fourth quarter. Sawtooth Solutions LLC now owns 36,515 shares of the company’s stock valued at $146,000 after acquiring an additional 18,131 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Zynga during the third quarter valued at about $150,000. Institutional investors and hedge funds own 71.37% of the company’s stock.
Zynga (NASDAQ:ZNGA) traded down $0.06 during mid-day trading on Friday, hitting $3.88. The company had a trading volume of 6,633,583 shares, compared to its average volume of 13,225,176. The company has a market capitalization of $3,337.44, a P/E ratio of 128.88, a P/E/G ratio of 2.79 and a beta of 0.52. Zynga has a 12-month low of $2.73 and a 12-month high of $4.34.
ILLEGAL ACTIVITY WARNING: “Zacks: Brokerages Anticipate Zynga Inc (ZNGA) to Announce $0.02 Earnings Per Share” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/03/22/zacks-brokerages-anticipate-zynga-inc-znga-to-announce-0-02-earnings-per-share.html.
Zynga Company Profile
Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.
Get a free copy of the Zacks research report on Zynga (ZNGA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Zynga Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zynga and related companies with MarketBeat.com's FREE daily email newsletter.