Zacks: Brokerages Anticipate Weibo Co. (NASDAQ:WB) Will Announce Earnings of $0.50 Per Share

Wall Street brokerages expect Weibo Co. (NASDAQ:WBGet Rating) to post $0.50 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Weibo’s earnings. Weibo posted earnings per share of $0.57 in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.3%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Weibo will report full-year earnings of $2.81 per share for the current financial year, with EPS estimates ranging from $2.68 to $2.91. For the next fiscal year, analysts anticipate that the company will post earnings of $3.19 per share, with EPS estimates ranging from $3.05 to $3.32. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Weibo.

Weibo (NASDAQ:WBGet Rating) last posted its quarterly earnings data on Thursday, March 3rd. The information services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.25). The business had revenue of $616.30 million during the quarter, compared to analyst estimates of $607.41 million. Weibo had a net margin of 18.98% and a return on equity of 13.38%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share.

WB has been the topic of several analyst reports. Benchmark lowered their target price on shares of Weibo from $70.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, March 4th. 86 Research raised shares of Weibo from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, March 4th. UBS Group downgraded shares of Weibo from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $27.80 in a report on Friday, March 11th. Zacks Investment Research raised shares of Weibo from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, The Goldman Sachs Group began coverage on shares of Weibo in a research note on Sunday, April 10th. They set a “hold” rating and a $37.50 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Weibo presently has an average rating of “Buy” and an average target price of $44.37.

Shares of NASDAQ:WB opened at $21.18 on Wednesday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 0.66 and a beta of 0.89. The firm’s 50-day simple moving average is $23.49 and its 200-day simple moving average is $30.74. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.42. Weibo has a fifty-two week low of $18.62 and a fifty-two week high of $64.70.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in shares of Weibo by 25.5% in the 4th quarter. Bank of America Corp DE now owns 9,979,976 shares of the information services provider’s stock valued at $309,179,000 after purchasing an additional 2,029,507 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Weibo during the 4th quarter valued at approximately $143,502,000. BlackRock Inc. raised its position in shares of Weibo by 6.3% during the 1st quarter. BlackRock Inc. now owns 2,898,674 shares of the information services provider’s stock valued at $71,044,000 after acquiring an additional 171,508 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Weibo by 68.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,692,640 shares of the information services provider’s stock valued at $65,996,000 after acquiring an additional 1,091,440 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Weibo by 12.4% during the 1st quarter. Federated Hermes Inc. now owns 2,592,455 shares of the information services provider’s stock valued at $63,541,000 after acquiring an additional 286,886 shares in the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.

Weibo Company Profile (Get Rating)

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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