KeyCorp Equities Analysts Boost Earnings Estimates for Facebook, Inc. (FB)

Facebook, Inc. (NASDAQ:FB) – Equities researchers at KeyCorp upped their FY2018 earnings per share (EPS) estimates for Facebook in a note issued to investors on Tuesday, October 30th. KeyCorp analyst A. Hargreaves now forecasts that the social networking company will post earnings of $7.52 per share for the year, up from their previous estimate of $7.31. KeyCorp has a “Overweight” rating and a $195.00 price target on the stock. KeyCorp also issued estimates for Facebook’s Q4 2018 earnings at $2.32 EPS, Q3 2019 earnings at $1.66 EPS and Q4 2019 earnings at $2.33 EPS.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping 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 business had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same period in the previous year, the company earned $1.59 earnings per share. Facebook’s revenue for the quarter was up 32.9% on a year-over-year basis.

A number of other equities analysts have also issued reports on FB. ValuEngine raised shares of Facebook from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered shares of Facebook from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Mizuho dropped their target price on shares of Facebook from $245.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James dropped their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, BidaskClub raised shares of Facebook from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and an average price target of $194.54.

Shares of Facebook stock opened at $150.35 on Thursday. Facebook has a 1-year low of $139.03 and a 1-year high of $218.62. The firm has a market capitalization of $424.77 billion, a PE ratio of 24.41, a PEG ratio of 0.93 and a beta of 0.42.

Large investors have recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. lifted its position in Facebook by 1.2% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 384,211 shares of the social networking company’s stock valued at $63,187,000 after purchasing an additional 4,400 shares during the period. PDS Planning Inc lifted its position in Facebook by 168.4% during the 3rd quarter. PDS Planning Inc now owns 3,425 shares of the social networking company’s stock valued at $563,000 after purchasing an additional 2,149 shares during the period. Bank of The West lifted its position in Facebook by 4.4% during the 3rd quarter. Bank of The West now owns 90,789 shares of the social networking company’s stock valued at $14,932,000 after purchasing an additional 3,863 shares during the period. Canandaigua National Bank & Trust Co. lifted its position in Facebook by 4.6% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 21,581 shares of the social networking company’s stock valued at $3,549,000 after purchasing an additional 954 shares during the period. Finally, Chicago Capital LLC lifted its position in Facebook by 11.3% during the 3rd quarter. Chicago Capital LLC now owns 130,574 shares of the social networking company’s stock valued at $21,474,000 after purchasing an additional 13,302 shares during the period. Institutional investors own 60.30% of the company’s stock.

In other news, CEO Mark Zuckerberg sold 210,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $185.45, for a total value of $38,944,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $184.98, for a total transaction of $138,735.00. Following the completion of the sale, the vice president now owns 86,365 shares in the company, valued at approximately $15,975,797.70. The disclosure for this sale can be found here. Insiders sold a total of 3,416,282 shares of company stock worth $603,782,983 in the last 90 days. 17.23% of the stock is owned by corporate insiders.

Facebook Company Profile

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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