Brokerages Expect Facebook, Inc. (FB) to Announce $1.48 Earnings Per Share

Wall Street analysts predict that Facebook, Inc. (NASDAQ:FB) will post earnings per share of $1.48 for the current quarter, Zacks reports. Fourteen analysts have provided estimates for Facebook’s earnings, with the lowest EPS estimate coming in at $1.30 and the highest estimate coming in at $1.89. Facebook reported earnings per share of $1.59 during the same quarter last year, which suggests a negative year-over-year growth rate of 6.9%. The firm is expected to report its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Facebook will report full year earnings of $7.08 per share for the current fiscal year, with EPS estimates ranging from $6.66 to $7.32. For the next financial year, analysts forecast that the business will report earnings of $8.12 per share, with EPS estimates ranging from $6.93 to $9.52. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Facebook.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.01). Facebook had a return on equity of 28.16% and a net margin of 39.31%. The business had revenue of $13.23 billion for the quarter, compared to analysts’ expectations of $13.35 billion. During the same quarter in the prior year, the business posted $1.32 EPS. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year.

Several equities research analysts have recently issued reports on FB shares. JPMorgan Chase & Co. reaffirmed a “$210.91” rating and issued a $242.00 price objective on shares of Facebook in a research note on Monday, July 23rd. Barclays reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Facebook in a research note on Wednesday, June 27th. Macquarie reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Facebook in a research note on Wednesday, June 27th. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $226.00 price objective for the company in a research note on Tuesday, June 26th. Finally, BidaskClub raised Facebook from a “hold” rating to a “buy” rating in a research note on Saturday, June 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $206.89.

Shares of Facebook stock opened at $162.32 on Friday. Facebook has a 12 month low of $149.02 and a 12 month high of $218.62. The company has a market cap of $470.61 billion, a P/E ratio of 26.35, a PEG ratio of 1.04 and a beta of 0.49.

In other news, insider Christopher K. Cox sold 10,600 shares of the business’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $194.13, for a total value of $2,057,778.00. Following the completion of the transaction, the insider now owns 123,482 shares of the company’s stock, valued at approximately $23,971,560.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 240,000 shares of the business’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $216.71, for a total value of $52,010,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,629,413 shares of company stock valued at $1,857,165,307. 17.23% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Taylor Hoffman Wealth Management acquired a new position in shares of Facebook during the 4th quarter worth approximately $103,000. Santori & Peters Inc. acquired a new position in shares of Facebook during the 4th quarter worth approximately $116,000. Risk Paradigm Group LLC boosted its holdings in shares of Facebook by 81.4% during the 4th quarter. Risk Paradigm Group LLC now owns 655 shares of the social networking company’s stock worth $116,000 after purchasing an additional 294 shares during the last quarter. Cribstone Capital Management LLC boosted its holdings in shares of Facebook by 186.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after purchasing an additional 406 shares during the last quarter. Finally, IMA Wealth Inc. acquired a new position in shares of Facebook during the 2nd quarter worth approximately $122,000. Hedge funds and other institutional investors own 60.42% of the company’s stock.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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