Analysts Expect Meta Platforms, Inc. (NASDAQ:FB) to Post $2.60 EPS

Wall Street brokerages predict that Meta Platforms, Inc. (NASDAQ:FB – Get Rating) will report earnings of $2.60 per share for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Meta Platforms’ earnings, with estimates ranging from $2.26 to $2.83. Meta Platforms posted earnings of $3.61 per share in the same quarter last year, which suggests a negative year over year growth rate of 28%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Meta Platforms will report full year earnings of $11.63 per share for the current financial year, with EPS estimates ranging from $10.48 to $12.84. For the next fiscal year, analysts expect that the business will report earnings of $13.75 per share, with EPS estimates ranging from $11.37 to $16.06. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Meta Platforms.

Meta Platforms (NASDAQ:FB – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The social networking company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.66 by $0.06. Meta Platforms had a net margin of 31.20% and a return on equity of 28.74%. During the same period last year, the business earned $3.30 EPS.

FB has been the topic of a number of research reports. Truist Financial decreased their price target on shares of Meta Platforms from $350.00 to $320.00 in a research note on Thursday, April 28th. Monness Crespi & Hardt cut their price objective on shares of Meta Platforms from $460.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. MKM Partners cut their price objective on shares of Meta Platforms from $315.00 to $295.00 in a report on Thursday, April 28th. downgraded shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Thursday, February 24th. Finally, Moffett Nathanson cut their price objective on shares of Meta Platforms from $420.00 to $380.00 and set a “buy” rating for the company in a report on Thursday, February 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $316.80.

In related news, CFO David M. Wehner sold 1,095 shares of the business’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $217.70, for a total transaction of $238,381.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Susan J.S. Taylor sold 2,272 shares of the business’s stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $214.00, for a total transaction of $486,208.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,956 shares of company stock worth $1,692,026. Insiders own 13.59% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $9,595,113,000. Dodge & Cox grew its position in shares of Meta Platforms by 78.7% in the 4th quarter. Dodge & Cox now owns 6,655,324 shares of the social networking company’s stock valued at $2,238,518,000 after purchasing an additional 2,931,894 shares during the period. Capital International Investors grew its position in shares of Meta Platforms by 5.9% in the 4th quarter. Capital International Investors now owns 51,769,038 shares of the social networking company’s stock valued at $17,413,576,000 after purchasing an additional 2,888,336 shares during the period. HS Management Partners LLC grew its position in shares of Meta Platforms by 463.7% in the 4th quarter. HS Management Partners LLC now owns 2,826,830 shares of the social networking company’s stock valued at $182,104,000 after purchasing an additional 2,325,382 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Meta Platforms by 65.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,738,295 shares of the social networking company’s stock worth $1,275,967,000 after acquiring an additional 2,278,994 shares during the last quarter. 65.49% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:FB opened at $212.03 on Wednesday. Meta Platforms has a one year low of $169.00 and a one year high of $384.33. The firm has a market cap of $577.13 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.28 and a beta of 1.37. The firm’s fifty day moving average is $208.21 and its two-hundred day moving average is $275.17.

About Meta Platforms (Get Rating)

Meta Platforms, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, wearables, and in-home devices worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment's products include Facebook, which enables people to share, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices through chat, audio and video calls, and rooms; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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