Meta Platforms (META) to Release Earnings on Wednesday

Meta Platforms (NASDAQ:META) is scheduled to release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Meta Platforms to post earnings of $4.27 per share for the quarter. Meta Platforms has set its Q1 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.00 EPS. On average, analysts expect Meta Platforms to post $20 EPS for the current fiscal year and $23 EPS for the next fiscal year.

Meta Platforms Trading Down 0.1 %

Shares of META opened at $499.76 on Wednesday. Meta Platforms has a 1-year low of $207.13 and a 1-year high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $493.16 and its 200-day moving average price is $396.01. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 33.54, a PEG ratio of 1.31 and a beta of 1.20.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is 13.42%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Evercore ISI lifted their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Monness Crespi & Hardt upped their target price on shares of Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $500.00 to $555.00 and gave the company a “buy” rating in a research report on Monday. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wolfe Research lifted their target price on shares of Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.28.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,439,788 shares of company stock worth $684,542,792. Corporate insiders own 14.03% of the company’s stock.

Hedge Funds Weigh In On Meta Platforms

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $6,693,000. Oarsman Capital Inc. increased its position in Meta Platforms by 8.8% in the fourth quarter. Oarsman Capital Inc. now owns 2,682 shares of the social networking company’s stock worth $949,000 after purchasing an additional 216 shares during the last quarter. Harbour Investments Inc. raised its stake in Meta Platforms by 8.2% during the fourth quarter. Harbour Investments Inc. now owns 8,527 shares of the social networking company’s stock valued at $3,018,000 after purchasing an additional 646 shares in the last quarter. Aspect Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at $49,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Meta Platforms in the 4th quarter worth $1,734,000. 79.91% of the stock is owned by institutional investors.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, 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, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.