Alibaba Group Holding Limited (NYSE:BABA) Set to Announce Quarterly Earnings on Thursday
Alibaba Group Holding Limited (NYSE:BABA) will be issuing its quarterly earnings data before the market opens on Thursday, August 17th. Analysts expect the company to announce earnings of $0.73 per share for the quarter.
Alibaba Group Holding Limited (NYSE:BABA) last released its quarterly earnings data on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, analysts expect Alibaba Group Holding Limited to post $4.60 EPS for the current fiscal year and $6.12 EPS for the next fiscal year.
Alibaba Group Holding Limited (NYSE:BABA) opened at 157.49 on Thursday. The firm’s 50-day moving average price is $147.55 and its 200 day moving average price is $120.38. Alibaba Group Holding Limited has a 1-year low of $84.30 and a 1-year high of $160.39. The firm has a market capitalization of $398.45 billion, a price-to-earnings ratio of 62.32 and a beta of 2.64.
Alibaba Group Holding Limited declared that its board has approved a share repurchase program on Thursday, May 18th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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A number of equities analysts have recently commented on BABA shares. CIBC boosted their price target on Alibaba Group Holding Limited from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, May 23rd. J P Morgan Chase & Co started coverage on Alibaba Group Holding Limited in a report on Tuesday, June 27th. They set an “overweight” rating and a $190.00 price target for the company. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $140.00 price target (up previously from $130.00) on shares of Alibaba Group Holding Limited in a report on Monday, May 22nd. Robert W. Baird reissued an “outperform” rating and set a $135.00 price target (up previously from $116.00) on shares of Alibaba Group Holding Limited in a report on Friday, May 19th. Finally, Needham & Company LLC boosted their price target on Alibaba Group Holding Limited from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $142.21.
About Alibaba Group Holding Limited
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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