Analysts Expect MeetMe, Inc. (MEET) Will Announce Earnings of $0.11 Per Share
Wall Street brokerages expect that MeetMe, Inc. (NASDAQ:MEET) will report $0.11 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for MeetMe’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.11. MeetMe reported earnings per share of $0.10 in the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The business is scheduled to announce its next earnings results on Monday, November 6th.
On average, analysts expect that MeetMe will report full-year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.41 to $0.42. For the next financial year, analysts anticipate that the business will post earnings of $0.51 per share, with EPS estimates ranging from $0.50 to $0.51. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow MeetMe.
MeetMe (NASDAQ:MEET) last posted its earnings results on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $31.33 million during the quarter, compared to the consensus estimate of $30.70 million. MeetMe had a return on equity of 11.47% and a net margin of 15.95%. The business’s quarterly revenue was up 91.2% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share.
Several brokerages have issued reports on MEET. ValuEngine downgraded shares of MeetMe from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded shares of MeetMe from a “buy” rating to a “sell” rating in a research note on Saturday, May 13th. Roth Capital set a $8.00 price target on shares of MeetMe and gave the company a “buy” rating in a research note on Tuesday, August 22nd. JMP Securities decreased their price target on shares of MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating for the company in a research note on Monday, August 7th. Finally, BidaskClub downgraded shares of MeetMe from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.90.
Shares of MeetMe (NASDAQ MEET) opened at 3.57 on Monday. MeetMe has a 52 week low of $3.41 and a 52 week high of $6.47. The firm has a market cap of $256.32 million, a PE ratio of 14.94 and a beta of 0.86. The stock has a 50 day moving average price of $4.51 and a 200 day moving average price of $5.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC acquired a new position in MeetMe during the second quarter worth about $304,000. Alps Advisors Inc. increased its position in MeetMe by 0.3% in the second quarter. Alps Advisors Inc. now owns 95,579 shares of the information services provider’s stock worth $483,000 after buying an additional 245 shares in the last quarter. Rice Hall James & Associates LLC increased its position in MeetMe by 1.0% in the second quarter. Rice Hall James & Associates LLC now owns 52,360 shares of the information services provider’s stock worth $264,000 after buying an additional 539 shares in the last quarter. American International Group Inc. increased its position in MeetMe by 7.1% in the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock worth $150,000 after buying an additional 1,683 shares in the last quarter. Finally, Gotham Asset Management LLC increased its position in MeetMe by 2.1% in the first quarter. Gotham Asset Management LLC now owns 112,440 shares of the information services provider’s stock worth $662,000 after buying an additional 2,318 shares in the last quarter. Institutional investors own 56.31% of the company’s stock.
MeetMe Company Profile
The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.
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