Facebook, Inc. (NASDAQ:FB) – Analysts at SunTrust Banks lowered their FY2018 earnings per share estimates for Facebook in a research report issued to clients and investors on Wednesday, April 11th. SunTrust Banks analyst Y. Squali now expects that the social networking company will post earnings per share of $6.46 for the year, down from their previous estimate of $7.15. SunTrust Banks currently has a “Buy” rating and a $225.00 price objective on the stock. SunTrust Banks also issued estimates for Facebook’s FY2019 earnings at $7.91 EPS, FY2020 earnings at $9.61 EPS, FY2021 earnings at $11.42 EPS and FY2022 earnings at $13.30 EPS.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.24. The business had revenue of $12.97 billion for the quarter, compared to analyst estimates of $12.58 billion. Facebook had a net margin of 39.16% and a return on equity of 26.49%.
FB has been the topic of a number of other reports. BidaskClub upgraded shares of Facebook from a “sell” rating to a “hold” rating in a report on Thursday. MED began coverage on shares of Facebook in a report on Wednesday. They set a “buy” rating and a $165.04 target price on the stock. Stifel Nicolaus restated a “hold” rating and set a $168.00 target price on shares of Facebook in a report on Thursday. Monness Crespi & Hardt began coverage on shares of Facebook in a report on Wednesday. They set a “buy” rating and a $200.00 target price on the stock. Finally, Jefferies Group restated a “buy” rating and set a $215.00 target price on shares of Facebook in a report on Monday, April 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $209.94.
Shares of FB stock opened at $164.52 on Friday. The firm has a market capitalization of $483,159.63, a PE ratio of 26.71, a price-to-earnings-growth ratio of 0.90 and a beta of 0.79. Facebook has a 12 month low of $139.75 and a 12 month high of $195.32.
In related news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $177.25, for a total transaction of $9,748,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP David B. Fischer sold 5,587 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $187.66, for a total transaction of $1,048,456.42. The disclosure for this sale can be found here. In the last three months, insiders sold 6,812,678 shares of company stock valued at $1,193,584,853. 17.23% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Country Trust Bank lifted its holdings in shares of Facebook by 550.6% in the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after acquiring an additional 479 shares during the last quarter. Armbruster Capital Management Inc. lifted its holdings in shares of Facebook by 358.4% in the fourth quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock worth $101,000 after acquiring an additional 448 shares during the last quarter. Taylor Hoffman Wealth Management bought a new position in shares of Facebook in the fourth quarter worth about $103,000. Price Wealth Management Inc. bought a new position in shares of Facebook in the fourth quarter worth about $105,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in shares of Facebook in the third quarter worth about $111,000. 58.48% of the stock is owned by institutional investors and hedge funds.
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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.
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