Zacks: Analysts Anticipate Meta Platforms, Inc. (NASDAQ:FB) to Announce $2.60 Earnings Per Share

Wall Street analysts forecast that Meta Platforms, Inc. (NASDAQ:FBGet Rating) will report earnings per share (EPS) of $2.60 for the current quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Meta Platforms’ earnings, with the lowest EPS estimate coming in at $2.26 and the highest estimate coming in at $2.83. Meta Platforms reported earnings per share of $3.61 in the same quarter last year, which suggests a negative year over year growth rate of 28%. The business is expected to issue its next earnings results on Monday, January 1st.

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

Meta Platforms (NASDAQ:FBGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The social networking company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.06. Meta Platforms had a return on equity of 28.74% and a net margin of 31.20%. During the same period last year, the company posted $3.30 EPS.

A number of brokerages have recently weighed in on FB. KeyCorp cut their price objective on Meta Platforms from $420.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, February 3rd. Loop Capital lowered Meta Platforms from a “buy” rating to a “hold” rating and dropped their price target for the company from $380.00 to $230.00 in a research report on Thursday, February 3rd. Susquehanna dropped their price target on Meta Platforms from $375.00 to $290.00 in a research report on Thursday, April 28th. Argus lowered Meta Platforms from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. Finally, TheStreet lowered Meta Platforms from a “b-” rating to a “c” rating in a research report on Friday, March 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Buy” and an average price target of $314.41.

In other news, insider Jennifer Newstead sold 311 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $199.60, for a total value of $62,075.60. Following the sale, the insider now directly owns 12,187 shares in the company, valued at $2,432,525.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Susan J.S. Taylor sold 1,420 shares of the stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $202.16, for a total value of $287,067.20. Following the completion of the sale, the chief accounting officer now owns 1,605 shares in the company, valued at $324,466.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,758 shares of company stock worth $9,217,533. Company insiders own 13.59% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FB. Landmark Wealth Management LLC purchased a new stake in shares of Meta Platforms in the first quarter worth approximately $26,000. Disciplined Investments LLC grew its stake in Meta Platforms by 583.3% in the first quarter. Disciplined Investments LLC now owns 123 shares of the social networking company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Barnett & Company Inc. grew its stake in Meta Platforms by 105.0% in the fourth quarter. Barnett & Company Inc. now owns 82 shares of the social networking company’s stock worth $28,000 after purchasing an additional 42 shares in the last quarter. Rise Advisors LLC bought a new position in Meta Platforms in the fourth quarter worth approximately $28,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new position in Meta Platforms in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Shares of FB stock traded down $14.95 during trading hours on Tuesday, reaching $181.28. The company’s stock had a trading volume of 50,324,116 shares, compared to its average volume of 35,774,137. The stock has a market capitalization of $490.60 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.21 and a beta of 1.37. Meta Platforms has a one year low of $169.00 and a one year high of $384.33. The firm’s fifty day simple moving average is $207.81 and its 200 day simple moving average is $261.32.

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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