$9.85 Billion in Sales Expected for Facebook, Inc. (FB) This Quarter
Analysts expect that Facebook, Inc. (NASDAQ:FB) will report $9.85 billion in sales for the current quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Facebook’s earnings, with the highest sales estimate coming in at $10.18 billion and the lowest estimate coming in at $9.65 billion. Facebook posted sales of $7.01 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 40.5%. The firm is expected to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Facebook will report full year sales of $9.85 billion for the current fiscal year, with estimates ranging from $38.55 billion to $40.00 billion. For the next fiscal year, analysts expect that the business will post sales of $51.23 billion per share, with estimates ranging from $48.24 billion to $53.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Facebook.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. Facebook’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share.
Several equities research analysts have issued reports on FB shares. Canaccord Genuity reaffirmed a “buy” rating and set a $175.00 price target on shares of Facebook in a research note on Friday, June 16th. Vetr cut shares of Facebook from a “buy” rating to a “hold” rating and set a $156.06 price target on the stock. in a research note on Thursday, May 25th. Cantor Fitzgerald set a $180.00 price target on shares of Facebook and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Robert W. Baird reaffirmed a “buy” rating and set a $185.00 price target on shares of Facebook in a research note on Friday, September 1st. Finally, Moffett Nathanson reaffirmed a “buy” rating on shares of Facebook in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and a consensus price target of $183.74.
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Facebook (FB) traded down 0.17% during trading on Wednesday, reaching $172.67. 4,957,328 shares of the company were exchanged. The stock has a 50 day moving average price of $169.69 and a 200 day moving average price of $153.28. Facebook has a 12 month low of $113.55 and a 12 month high of $175.49. The firm has a market capitalization of $501.47 billion, a PE ratio of 38.65 and a beta of 0.76.
In other news, Director Jan Koum sold 3,600,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total value of $576,216,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $149.00, for a total value of $111,750.00. Following the completion of the transaction, the vice president now owns 86,156 shares in the company, valued at approximately $12,837,244. The disclosure for this sale can be found here. Insiders sold a total of 13,071,103 shares of company stock worth $2,134,223,843 in the last quarter. 19.08% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Facebook by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after buying an additional 5,151,190 shares in the last quarter. BlackRock Inc. grew its stake in shares of Facebook by 3.0% in the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after buying an additional 4,032,727 shares in the last quarter. State Street Corp grew its stake in shares of Facebook by 1.7% in the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after buying an additional 1,536,158 shares in the last quarter. Capital World Investors grew its stake in shares of Facebook by 1.5% in the 2nd quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock valued at $8,578,347,000 after buying an additional 833,810 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Facebook by 0.4% in the 2nd quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock valued at $3,994,161,000 after buying an additional 114,694 shares in the last quarter. Institutional investors own 57.30% of the company’s stock.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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