Brokerages forecast that Meet Group Inc (NASDAQ:MEET) will report $50.60 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Meet Group’s earnings, with estimates ranging from $50.50 million to $50.70 million. Meet Group reported sales of $45.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.7%. The business is scheduled to report its next earnings report on Wednesday, November 6th.
On average, analysts expect that Meet Group will report full year sales of $210.27 million for the current year, with estimates ranging from $209.60 million to $210.70 million. For the next year, analysts anticipate that the company will post sales of $233.70 million, with estimates ranging from $221.70 million to $242.10 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Meet Group.
Meet Group (NASDAQ:MEET) last issued its quarterly earnings data on Wednesday, July 31st. The information services provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Meet Group had a net margin of 4.53% and a return on equity of 11.30%. The company had revenue of $52.00 million for the quarter, compared to analysts’ expectations of $50.67 million.
Several brokerages recently weighed in on MEET. Aegis reissued a “buy” rating and issued a $6.25 price objective on shares of Meet Group in a research note on Thursday, July 11th. Canaccord Genuity set a $8.00 price objective on shares of Meet Group and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Zacks Investment Research cut shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. CIBC began coverage on shares of Meet Group in a research note on Friday, June 21st. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, Oppenheimer began coverage on shares of Meet Group in a research note on Thursday, June 20th. They issued an “outperform” rating and a $7.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Meet Group presently has a consensus rating of “Hold” and a consensus price target of $6.71.
A number of institutional investors and hedge funds have recently modified their holdings of MEET. BNP Paribas Arbitrage SA boosted its position in Meet Group by 466.7% during the first quarter. BNP Paribas Arbitrage SA now owns 14,684 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 12,093 shares during the last quarter. SG Americas Securities LLC bought a new stake in Meet Group during the first quarter valued at $71,000. Rhumbline Advisers boosted its position in Meet Group by 6.9% during the first quarter. Rhumbline Advisers now owns 104,966 shares of the information services provider’s stock valued at $528,000 after acquiring an additional 6,800 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Meet Group during the first quarter valued at $2,314,000. Finally, 361 Capital LLC bought a new stake in Meet Group during the first quarter valued at $2,457,000. 69.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Meet Group stock traded down $0.10 during trading on Friday, hitting $3.44. The company’s stock had a trading volume of 988,289 shares, compared to its average volume of 1,352,595. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 1.22. Meet Group has a 52 week low of $3.05 and a 52 week high of $6.27. The stock has a market cap of $262.33 million, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.42 and a beta of 1.50. The stock has a 50-day moving average price of $3.50 and a two-hundred day moving average price of $4.29.
Meet Group Company Profile
The Meet Group, Inc operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide. The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.
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