Facebook, Inc. to Post FY2018 Earnings of $7.39 Per Share, Piper Jaffray Companies Forecasts (FB)

Facebook, Inc. (NASDAQ:FB) – Stock analysts at Piper Jaffray Companies upped their FY2018 earnings per share estimates for Facebook in a report issued on Wednesday, October 31st. Piper Jaffray Companies analyst M. Olson now expects that the social networking company will earn $7.39 per share for the year, up from their previous estimate of $6.98. Piper Jaffray Companies has a “Overweight” rating and a $190.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Facebook’s Q4 2018 earnings at $2.19 EPS, Q1 2019 earnings at $1.67 EPS, Q2 2019 earnings at $1.70 EPS, Q3 2019 earnings at $1.75 EPS, Q4 2019 earnings at $2.24 EPS and FY2020 earnings at $8.75 EPS.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 28.18%. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter last year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year.

A number of other equities analysts have also commented on FB. Zacks Investment Research lowered shares of Facebook from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 11th. ValuEngine upgraded shares of Facebook from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Mizuho lowered their target price on shares of Facebook from $245.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James lowered their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, BidaskClub upgraded shares of Facebook from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $195.56.

Facebook stock opened at $151.75 on Thursday. Facebook has a 1-year low of $139.03 and a 1-year high of $218.62. The stock has a market capitalization of $424.77 billion, a P/E ratio of 24.63, a PEG ratio of 0.93 and a beta of 0.42.

In other Facebook news, insider Christopher K. Cox sold 10,600 shares of Facebook stock in a transaction on Monday, August 13th. The shares were sold at an average price of $180.98, for a total value of $1,918,388.00. Following the completion of the transaction, the insider now owns 99,573 shares of the company’s stock, valued at $18,020,721.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David B. Fischer sold 2,648 shares of Facebook stock in a transaction on Monday, October 29th. The shares were sold at an average price of $148.39, for a total transaction of $392,936.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,416,282 shares of company stock valued at $603,782,983. 17.23% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cribstone Capital Management LLC increased its stake in shares of Facebook by 186.2% during the second 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 in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Facebook during the second quarter worth about $122,000. Trust Department MB Financial Bank N A purchased a new stake in shares of Facebook during the second quarter worth about $134,000. Aviance Capital Management LLC purchased a new stake in shares of Facebook during the second quarter worth about $151,000. Finally, Marino Stram & Associates LLC increased its stake in shares of Facebook by 115.3% during the second quarter. Marino Stram & Associates LLC now owns 945 shares of the social networking company’s stock worth $184,000 after purchasing an additional 506 shares in the last quarter. 60.30% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Facebook (NASDAQ:FB)

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