$314.15 Million in Sales Expected for Match Group Inc (MTCH) This Quarter
Wall Street analysts expect that Match Group Inc (NASDAQ:MTCH) will post sales of $314.15 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Match Group’s earnings, with estimates ranging from $292.84 million to $322.8 million. Match Group posted sales of $285.28 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The business is expected to announce its next earnings results after the market closes on Tuesday, May 2nd.
According to Zacks, analysts expect that Match Group will report full year sales of $314.15 million for the current financial year, with estimates ranging from $1.28 billion to $1.39 billion. For the next financial year, analysts forecast that the company will post sales of $1.5 billion per share, with estimates ranging from $1.46 billion to $1.57 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Match Group.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, January 31st. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $319.70 million for the quarter, compared to the consensus estimate of $320.62 million. Match Group had a net margin of 14.02% and a return on equity of 47.04%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share.
Several research firms have recently commented on MTCH. Vetr raised shares of Match Group from a “buy” rating to a “strong-buy” rating and set a $19.56 price target for the company in a research report on Tuesday, February 14th. Aegis reissued a “buy” rating and issued a $20.00 target price on shares of Match Group in a report on Tuesday, January 10th. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 11th. Guggenheim lowered shares of Match Group from a “buy” rating to a “neutral” rating in a report on Friday, January 20th. Finally, Piper Jaffray Companies started coverage on shares of Match Group in a report on Tuesday, April 4th. They issued an “overweight” rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.04.
Match Group (NASDAQ:MTCH) opened at 17.22 on Friday. Match Group has a 1-year low of $10.72 and a 1-year high of $19.74. The stock has a market capitalization of $4.41 billion, a P/E ratio of 26.91 and a beta of 0.86. The firm’s 50 day moving average is $16.49 and its 200 day moving average is $17.39.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Match Group by 12.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,048 shares of the company’s stock valued at $125,000 after buying an additional 800 shares during the last quarter. Gideon Capital Advisors Inc. acquired a new position in Match Group during the fourth quarter valued at $185,000. Quadrature Capital Ltd acquired a new position in Match Group during the third quarter valued at $205,000. Cipher Capital LP acquired a new position in Match Group during the fourth quarter valued at $210,000. Finally, Meeder Asset Management Inc. acquired a new position in Match Group during the third quarter valued at $224,000. Institutional investors and hedge funds own 17.21% of the company’s stock.
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About Match Group
Match Group, Inc is a provider of dating products. The Company operates in two segments: Dating and Non-dating. The Dating segment consists of all of its dating businesses across the globe. The Non-dating segment consists of The Princeton Review, which provides a range of educational test preparation, academic tutoring and college counseling services.
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