Wedbush Brokers Raise Earnings Estimates for Facebook Inc (FB)
Facebook Inc (NASDAQ:FB) – Equities research analysts at Wedbush lifted their Q1 2018 EPS estimates for shares of Facebook in a report issued on Thursday. Wedbush analyst M. Pachter now forecasts that the social networking company will post earnings per share of $1.41 for the quarter, up from their prior forecast of $1.40. Wedbush currently has a “Outperform” rating and a $260.00 target price on the stock. Wedbush also issued estimates for Facebook’s Q2 2018 earnings at $1.74 EPS, Q3 2018 earnings at $1.97 EPS, Q4 2018 earnings at $2.54 EPS, FY2018 earnings at $7.67 EPS, Q1 2019 earnings at $1.74 EPS, Q2 2019 earnings at $2.14 EPS, Q4 2019 earnings at $3.02 EPS and FY2019 earnings at $9.32 EPS.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The firm had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $12.58 billion.
Facebook (NASDAQ:FB) opened at $190.28 on Friday. The stock has a market capitalization of $544,870.00, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 1.06 and a beta of 0.58. Facebook has a twelve month low of $130.30 and a twelve month high of $195.32.
In related news, VP David B. Fischer sold 5,587 shares of Facebook stock in a transaction on Friday, January 26th. The shares were sold at an average price of $187.66, for a total value of $1,048,456.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $180.27, for a total transaction of $2,884,320.00. Following the completion of the sale, the insider now directly owns 49,816 shares of the company’s stock, valued at approximately $8,980,330.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,564,837 shares of company stock worth $281,533,757. 17.23% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in FB. Country Trust Bank lifted its position in Facebook by 550.6% during the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after acquiring an additional 479 shares during the last quarter. Armbruster Capital Management Inc. lifted its position in Facebook by 358.4% during the 4th quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock worth $101,000 after acquiring an additional 448 shares during the last quarter. Price Wealth Management Inc. acquired a new position in Facebook during the 4th quarter worth $105,000. D. Scott Neal Inc. lifted its position in Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares during the last quarter. Finally, Moisand Fitzgerald Tamayo LLC acquired a new position in Facebook during the 3rd quarter worth $111,000. 57.81% of the stock is owned by institutional investors and hedge funds.
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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