$604.63 Million in Sales Expected for JOYY Inc. (NASDAQ:YY) This Quarter

Brokerages predict that JOYY Inc. (NASDAQ:YYGet Rating) will post $604.63 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for JOYY’s earnings. The lowest sales estimate is $602.09 million and the highest is $607.17 million. JOYY posted sales of $643.08 million during the same quarter last year, which would indicate a negative year over year growth rate of 6%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that JOYY will report full-year sales of $2.83 billion for the current financial year, with estimates ranging from $2.67 billion to $2.99 billion. For the next financial year, analysts expect that the business will report sales of $3.12 billion, with estimates ranging from $2.85 billion to $3.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover JOYY.

JOYY (NASDAQ:YYGet Rating) last issued its earnings results on Tuesday, March 15th. The information services provider reported $1.15 EPS for the quarter, beating the consensus estimate of ($0.10) by $1.25. JOYY had a negative net margin of 3.15% and a positive return on equity of 2.03%. The firm had revenue of $663.71 million during the quarter, compared to the consensus estimate of $652.42 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share.

Several research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of JOYY in a report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of JOYY from an “underweight” rating to a “neutral” rating and set a $40.00 price target for the company in a report on Monday, May 16th. Benchmark reduced their price target on shares of JOYY from $97.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. Finally, Zacks Investment Research cut shares of JOYY from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.75.

Shares of NASDAQ:YY opened at $35.75 on Wednesday. JOYY has a 52 week low of $23.14 and a 52 week high of $88.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market capitalization of $2.79 billion, a PE ratio of -30.04 and a beta of 0.58. The company has a 50 day moving average price of $39.23 and a two-hundred day moving average price of $44.99.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, April 14th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Wednesday, April 13th. JOYY’s payout ratio is -170.59%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Ovata Capital Management Ltd bought a new stake in JOYY during the fourth quarter worth $4,926,000. Capital World Investors raised its position in shares of JOYY by 28.8% in the first quarter. Capital World Investors now owns 4,056,481 shares of the information services provider’s stock valued at $148,995,000 after purchasing an additional 906,900 shares during the period. CoreView Capital Management Ltd bought a new position in shares of JOYY in the fourth quarter valued at about $38,375,000. Krane Funds Advisors LLC raised its position in shares of JOYY by 101.4% in the third quarter. Krane Funds Advisors LLC now owns 1,161,746 shares of the information services provider’s stock valued at $63,699,000 after purchasing an additional 584,794 shares during the period. Finally, Carmignac Gestion raised its position in shares of JOYY by 48.4% in the third quarter. Carmignac Gestion now owns 1,747,632 shares of the information services provider’s stock valued at $95,814,000 after purchasing an additional 570,232 shares during the period. Institutional investors and hedge funds own 78.48% of the company’s stock.

JOYY Company Profile (Get Rating)

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

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