Wall Street brokerages forecast that Weibo Co. (NASDAQ:WB) will announce $0.63 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Weibo’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.61. Weibo posted earnings per share of $0.77 during the same quarter last year, which suggests a negative year over year growth rate of 18.2%. The company is expected to issue its next quarterly earnings report on Thursday, November 12th.
According to Zacks, analysts expect that Weibo will report full-year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.11. For the next year, analysts anticipate that the business will post earnings of $2.67 per share, with EPS estimates ranging from $2.66 to $2.68. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Weibo.
Weibo (NASDAQ:WB) last announced its quarterly earnings data on Monday, September 28th. The information services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.09. Weibo had a net margin of 23.44% and a return on equity of 18.14%. The business had revenue of $387.40 million for the quarter, compared to analysts’ expectations of $380.63 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year.
Several brokerages recently issued reports on WB. Bank of America started coverage on Weibo in a research note on Friday, June 26th. They set a “buy” rating and a $42.00 target price on the stock. BidaskClub raised Weibo from a “hold” rating to a “buy” rating in a research note on Thursday. ValuEngine upgraded Weibo from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Zacks Investment Research lowered shares of Weibo from a “hold” rating to a “sell” rating in a report on Friday, September 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Weibo currently has a consensus rating of “Hold” and an average target price of $45.75.
A number of institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Weibo by 10.1% in the first quarter. Invesco Ltd. now owns 3,980,720 shares of the information services provider’s stock worth $131,802,000 after acquiring an additional 366,282 shares during the last quarter. ARGA Investment Management LP boosted its holdings in shares of Weibo by 91.3% in the second quarter. ARGA Investment Management LP now owns 2,063,802 shares of the information services provider’s stock worth $69,344,000 after buying an additional 985,125 shares during the last quarter. Perseverance Asset Management International grew its position in shares of Weibo by 21.8% during the 2nd quarter. Perseverance Asset Management International now owns 1,465,403 shares of the information services provider’s stock valued at $49,238,000 after acquiring an additional 262,461 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Weibo by 5.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 244,872 shares of the information services provider’s stock worth $8,228,000 after buying an additional 12,020 shares in the last quarter. Finally, Swiss National Bank raised its stake in Weibo by 10.2% during the 2nd quarter. Swiss National Bank now owns 156,028 shares of the information services provider’s stock valued at $5,243,000 after purchasing an additional 14,500 shares during the period. 25.39% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ WB traded down $0.48 during trading on Wednesday, reaching $40.75. The company had a trading volume of 57,921 shares, compared to its average volume of 1,778,751. Weibo has a 12-month low of $28.93 and a 12-month high of $55.52. The company has a quick ratio of 4.69, a current ratio of 4.69 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average is $36.03 and its 200 day moving average is $34.84. The stock has a market cap of $9.28 billion, a PE ratio of 23.56, a P/E/G ratio of 2.77 and a beta of 1.66.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.
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