eBay Inc. (EBAY) Issues Earnings Results
eBay Inc. (NASDAQ:EBAY) released its earnings results on Wednesday. The e-commerce company reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48, Briefing.com reports. eBay had a net margin of 80.93% and a return on equity of 17.50%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the company posted $0.45 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. eBay updated its Q4 guidance to $0.57-0.59 EPS.
Shares of eBay (NASDAQ:EBAY) traded up 1.28% on Wednesday, hitting $37.97. The company had a trading volume of 16,689,531 shares. The company has a 50 day moving average price of $37.84 and a 200 day moving average price of $35.51. The firm has a market capitalization of $40.64 billion, a price-to-earnings ratio of 5.70 and a beta of 1.36. eBay has a 1-year low of $27.28 and a 1-year high of $39.28.
In related news, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $37.51, for a total transaction of $937,750.00. Following the sale, the director now owns 262,119 shares of the company’s stock, valued at approximately $9,832,083.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian J. Doerger sold 10,450 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total value of $382,052.00. Following the sale, the vice president now directly owns 24,001 shares in the company, valued at approximately $877,476.56. The disclosure for this sale can be found here. Insiders have sold a total of 95,238 shares of company stock worth $3,439,297 in the last three months. 6.78% of the stock is currently owned by insiders.
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A number of research firms have issued reports on EBAY. Aegis restated a “buy” rating and set a $44.00 target price (up from $42.00) on shares of eBay in a research report on Tuesday, September 19th. Robert W. Baird restated a “buy” rating and set a $38.00 target price on shares of eBay in a research report on Monday. Piper Jaffray Companies set a $34.00 target price on shares of eBay and gave the company a “hold” rating in a research report on Wednesday, October 11th. KeyCorp restated a “hold” rating on shares of eBay in a research report on Wednesday, October 11th. Finally, DA Davidson began coverage on shares of eBay in a research report on Wednesday, September 13th. They set a “buy” rating and a $45.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $37.80.
eBay declared that its Board of Directors has approved a share buyback program on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
eBay Company Profile
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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