Brokerages predict that Meet Group Inc (NASDAQ:MEET) will announce sales of $50.60 million for the current quarter, according to Zacks. Three analysts have made estimates for Meet Group’s earnings. The lowest sales estimate is $50.50 million and the highest is $50.70 million. Meet Group posted sales of $45.72 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.7%. The company is expected to issue its next quarterly 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 financial year, with estimates ranging from $209.60 million to $210.70 million. For the next financial year, analysts expect that the company will post sales of $233.70 million, with estimates ranging from $221.70 million to $242.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Meet Group.
Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, July 31st. The information services provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.67 million. Meet Group had a net margin of 4.53% and a return on equity of 11.30%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Meet Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th. ValuEngine cut shares of Meet Group from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. Oppenheimer started coverage on shares of Meet Group in a report on Thursday, June 20th. They set an “outperform” rating and a $7.00 price target for the company. Aegis reiterated a “buy” rating and set a $6.25 price target on shares of Meet Group in a report on Thursday, July 11th. Finally, Roth Capital set a $8.00 price target on shares of Meet Group and gave the stock a “buy” rating in a report on Sunday, July 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.71.
Hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale acquired a new position in Meet Group during the 2nd quarter worth approximately $35,000. Meritage Portfolio Management acquired a new position in Meet Group during the 2nd quarter worth approximately $38,000. Meeder Asset Management Inc. grew its holdings in Meet Group by 3,841.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,332 shares of the information services provider’s stock worth $54,000 after acquiring an additional 14,943 shares in the last quarter. Jane Street Group LLC acquired a new position in Meet Group during the 2nd quarter worth approximately $58,000. Finally, Schroder Investment Management Group acquired a new position in Meet Group during the 2nd quarter worth approximately $67,000. Institutional investors own 66.84% of the company’s stock.
Shares of MEET stock opened at $3.55 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $271.48 million, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.44 and a beta of 1.50. The company has a 50 day moving average price of $3.50 and a 200 day moving average price of $4.36. Meet Group has a fifty-two week low of $3.05 and a fifty-two week high of $6.27.
About Meet Group
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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