SunTrust Banks Reaffirms Hold Rating for eBay (NASDAQ:EBAY)

SunTrust Banks reissued their hold rating on shares of eBay (NASDAQ:EBAY) in a research report report published on Tuesday morning, AnalystRatings.com reports. The firm currently has a $36.00 price objective on the e-commerce company’s stock.

“We maintain Hold/$36 PT ($40 SOTP) going into 2Q19 earnings due out Wed. 7/17. We expect the results/FY19 outlook to be in line with muted Street expectations, showing continued strain in Marketplace GMV growth with slightly better revenue trends, largely driven by promoted listings. We don’t expect a material update on the on-going operating and portfolio reviews. The current capital allocation effectively pays investors to wait (~$5B in share buybacks & ~$500M annual dividend in 2019) until 2H20/2021, when payments/1P advertising should have a greater positive effect on the overall P&L.”,” the firm’s analyst commented.

EBAY has been the subject of a number of other reports. UBS Group increased their target price on shares of W. R. Berkley from $53.00 to $56.00 and gave the company a sell rating in a research report on Wednesday, April 24th. Canaccord Genuity set a C$16.50 target price on shares of Detour Gold and gave the company a buy rating in a research report on Wednesday, April 24th. Piper Jaffray Companies cut shares of Kraft Heinz from a neutral rating to an underweight rating and reduced their target price for the company from $35.00 to $31.00 in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Teck Resources from C$56.00 to C$55.00 in a research report on Wednesday, April 24th. Finally, Barclays reduced their target price on shares of Waters from $218.00 to $210.00 and set an equal weight rating for the company in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $41.46.

Shares of NASDAQ EBAY traded up $0.09 during mid-day trading on Tuesday, reaching $39.86. The company’s stock had a trading volume of 175,501 shares, compared to its average volume of 7,533,211. The business has a 50-day simple moving average of $38.88. The firm has a market cap of $34.63 billion, a PE ratio of 17.18, a P/E/G ratio of 1.91 and a beta of 1.35. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.48. eBay has a 1-year low of $26.01 and a 1-year high of $42.00.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, July 17th. The e-commerce company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.19. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. eBay had a net margin of 22.12% and a return on equity of 33.64%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, equities analysts predict that eBay will post 2.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, August 30th. eBay’s dividend payout ratio (DPR) is presently 24.14%.

In other eBay news, SVP Kristin A. Yetto sold 25,156 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $37.41, for a total transaction of $941,085.96. Following the completion of the transaction, the senior vice president now owns 74,547 shares of the company’s stock, valued at $2,788,803.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Devin Wenig sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $39.75, for a total transaction of $397,500.00. Following the transaction, the chief executive officer now directly owns 1,039,610 shares of the company’s stock, valued at approximately $41,324,497.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,199 shares of company stock valued at $7,176,017. 6.22% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of eBay by 10.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,626 shares of the e-commerce company’s stock valued at $854,000 after purchasing an additional 2,100 shares during the period. Prio Wealth Limited Partnership boosted its stake in shares of eBay by 2.7% in the second quarter. Prio Wealth Limited Partnership now owns 380,050 shares of the e-commerce company’s stock valued at $15,011,000 after purchasing an additional 9,860 shares during the period. Sarasin & Partners LLP boosted its stake in shares of eBay by 4.5% in the second quarter. Sarasin & Partners LLP now owns 221,923 shares of the e-commerce company’s stock valued at $8,766,000 after purchasing an additional 9,605 shares during the period. Hamilton Point Investment Advisors LLC boosted its stake in shares of eBay by 2.0% in the second quarter. Hamilton Point Investment Advisors LLC now owns 145,140 shares of the e-commerce company’s stock valued at $5,733,000 after purchasing an additional 2,845 shares during the period. Finally, NuWave Investment Management LLC boosted its stake in shares of eBay by 15,537.8% in the second quarter. NuWave Investment Management LLC now owns 23,144 shares of the e-commerce company’s stock valued at $914,000 after purchasing an additional 22,996 shares during the period. 86.32% of the stock is owned by institutional investors.

eBay Company Profile

eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

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Analyst Recommendations for eBay (NASDAQ:EBAY)

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