Facebook, Inc. (NASDAQ:FB) – Equities research analysts at KeyCorp reduced their Q1 2019 earnings per share estimates for Facebook in a report issued on Tuesday, October 30th. KeyCorp analyst A. Hargreaves now anticipates that the social networking company will post earnings of $1.46 per share for the quarter, down from their prior estimate of $1.76. KeyCorp has a “Overweight” rating and a $195.00 price objective on the stock. KeyCorp also issued estimates for Facebook’s Q2 2019 earnings at $1.49 EPS, FY2019 earnings at $6.93 EPS and FY2020 earnings at $8.17 EPS.
A number of other research analysts have also weighed in on the company. ValuEngine upgraded Facebook from a “sell” rating to a “hold” rating in a report on Friday. Argus decreased their price objective on Facebook from $210.00 to $206.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley decreased their price objective on Facebook from $175.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James decreased their price objective on Facebook from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities set a $206.00 price objective on Facebook and gave the company a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of “Buy” and a consensus price target of $194.54.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. The company had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 EPS.
In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $184.98, for a total value of $138,735.00. Following the completion of the transaction, the vice president now directly owns 86,365 shares of the company’s stock, valued at approximately $15,975,797.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 218,000 shares of Facebook stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $183.07, for a total value of $39,909,260.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,416,282 shares of company stock worth $603,782,983. 17.23% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FB. Commerce Bank grew its position in shares of Facebook by 1.4% during the first quarter. Commerce Bank now owns 379,115 shares of the social networking company’s stock worth $60,579,000 after buying an additional 5,299 shares in the last quarter. Partnervest Advisory Services LLC grew its position in shares of Facebook by 11.8% during the first quarter. Partnervest Advisory Services LLC now owns 9,378 shares of the social networking company’s stock worth $1,499,000 after buying an additional 988 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of Facebook by 13.3% during the first quarter. Jacobi Capital Management LLC now owns 45,024 shares of the social networking company’s stock worth $6,996,000 after buying an additional 5,292 shares in the last quarter. Jackson Wealth Management LLC acquired a new position in shares of Facebook during the first quarter worth about $2,819,000. Finally, Bank of Hawaii grew its position in shares of Facebook by 10.4% during the first quarter. Bank of Hawaii now owns 30,566 shares of the social networking company’s stock worth $4,884,000 after buying an additional 2,887 shares in the last quarter. 60.30% of the stock is owned by institutional investors.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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