Changyou (CYOU) Posts Quarterly Earnings Results, Misses Estimates By $0.85 EPS

Changyou (NASDAQ:CYOU) posted its quarterly earnings results on Wednesday. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.85), RTT News reports. The company had revenue of $137.20 million during the quarter, compared to analysts’ expectations of $129.09 million. Changyou had a return on equity of 8.64% and a net margin of 18.76%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. Changyou updated its Q2 guidance to $0.38-0.47 EPS.

Shares of NASDAQ:CYOU traded up $0.55 during trading hours on Wednesday, hitting $29.36. 227,427 shares of the company’s stock traded hands, compared to its average volume of 223,240. Changyou has a 1 year low of $26.93 and a 1 year high of $44.55. The firm has a market capitalization of $1,566.25, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87.

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The firm also recently announced a special dividend, which will be paid on Thursday, April 26th. Shareholders of record on Friday, April 20th will be given a dividend of $9.40 per share. The ex-dividend date of this dividend is Thursday, April 19th.

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of Changyou by 19.7% in the 4th quarter. Millennium Management LLC now owns 132,272 shares of the technology company’s stock valued at $4,819,000 after purchasing an additional 21,796 shares in the last quarter. HBK Investments L P grew its stake in Changyou by 78.8% during the fourth quarter. HBK Investments L P now owns 15,994 shares of the technology company’s stock worth $583,000 after buying an additional 7,049 shares during the period. Two Sigma Advisers LP grew its stake in Changyou by 6.8% during the fourth quarter. Two Sigma Advisers LP now owns 269,899 shares of the technology company’s stock worth $9,832,000 after buying an additional 17,200 shares during the period. York Capital Management Global Advisors LLC purchased a new stake in Changyou during the fourth quarter worth approximately $19,546,000. Finally, Goldman Sachs Group Inc. grew its stake in Changyou by 113.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 12,289 shares of the technology company’s stock worth $448,000 after buying an additional 106,131 shares during the period. 32.70% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on CYOU shares. ValuEngine upgraded Changyou from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. BidaskClub raised Changyou from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Morgan Stanley assumed coverage on Changyou in a report on Wednesday, March 28th. They issued a “sell” rating and a $28.00 target price on the stock. Zacks Investment Research raised Changyou from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 3rd. Finally, Deutsche Bank cut Changyou to a “hold” rating and set a $32.00 target price on the stock. in a report on Monday. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Changyou currently has an average rating of “Hold” and an average price target of $35.86.

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Changyou Company Profile Limited develops and operates online games in the People's Republic of China. The company operates through Online Game, Platform Channel, and Others segments. It develops, operates, and licenses online games, including interactive online games that are accessed and played simultaneously by various game players through personal computers; and mobile games played on mobile devices.

Earnings History for Changyou (NASDAQ:CYOU)

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