Analysts Anticipate Meet Group Inc (MEET) Will Announce Quarterly Sales of $43.35 Million

Wall Street brokerages expect that Meet Group Inc (NASDAQ:MEET) will post $43.35 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Meet Group’s earnings. The lowest sales estimate is $43.20 million and the highest is $43.50 million. Meet Group reported sales of $32.25 million during the same quarter last year, which indicates a positive year over year growth rate of 34.4%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Meet Group will report full year sales of $167.80 million for the current financial year, with estimates ranging from $167.00 million to $168.60 million. For the next fiscal year, analysts expect that the firm will report sales of $179.50 million per share, with estimates ranging from $167.30 million to $191.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Meet Group.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Meet Group had a positive return on equity of 10.24% and a negative net margin of 45.79%. The company had revenue of $42.80 million for the quarter, compared to analyst estimates of $38.25 million.

A number of brokerages have weighed in on MEET. BidaskClub lowered Meet Group from a “buy” rating to a “hold” rating in a research note on Saturday. TheStreet raised Meet Group from a “d+” rating to a “c-” rating in a research note on Monday, August 27th. ValuEngine raised Meet Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Canaccord Genuity set a $6.00 price target on Meet Group and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research lowered Meet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Meet Group has an average rating of “Buy” and a consensus target price of $4.63.

Shares of Meet Group stock opened at $4.77 on Monday. Meet Group has a fifty-two week low of $1.84 and a fifty-two week high of $5.35. The firm has a market cap of $366.45 million, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15.

In other news, Director Jason Whitt sold 18,500 shares of the company’s stock in a transaction on Friday, July 13th. The stock was sold at an average price of $4.02, for a total transaction of $74,370.00. Following the completion of the sale, the director now directly owns 62,382 shares in the company, valued at approximately $250,775.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in shares of Meet Group by 74.2% during the 2nd quarter. Millennium Management LLC now owns 1,332,693 shares of the information services provider’s stock worth $5,970,000 after buying an additional 567,518 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Meet Group during the 2nd quarter worth $155,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Meet Group during the 2nd quarter worth $109,000. Quantum Capital Management acquired a new stake in shares of Meet Group during the 2nd quarter worth $313,000. Finally, Zacks Investment Management acquired a new stake in shares of Meet Group during the 2nd quarter worth $903,000. Institutional investors and hedge funds own 51.78% of the company’s stock.

Meet Group Company Profile

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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