Q2 2018 Earnings Estimate for Facebook, Inc. (FB) Issued By Oppenheimer
Facebook, Inc. (NASDAQ:FB) – Stock analysts at Oppenheimer lifted their Q2 2018 earnings estimates for Facebook in a research report issued on Wednesday, April 25th. Oppenheimer analyst J. Helfstein now forecasts that the social networking company will post earnings of $1.79 per share for the quarter, up from their prior estimate of $1.68. Oppenheimer has a “Buy” rating and a $225.00 price target on the stock. Oppenheimer also issued estimates for Facebook’s Q3 2018 earnings at $1.92 EPS, Q4 2018 earnings at $2.51 EPS and FY2019 earnings at $9.87 EPS.
Other equities analysts have also recently issued reports about the company. Argus raised their price objective on Facebook to $214.00 in a report on Wednesday, April 11th. JPMorgan Chase set a $230.00 price target on Facebook and gave the stock a “buy” rating in a research note on Monday, January 8th. Cowen reaffirmed a “buy” rating and issued a $220.00 price target on shares of Facebook in a research note on Thursday, January 4th. Vetr cut Facebook from a “strong-buy” rating to a “buy” rating and set a $203.53 price target on the stock. in a research note on Wednesday, January 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $230.00 price target on shares of Facebook in a research note on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have issued a buy rating and two have assigned a strong buy rating to the company. Facebook presently has an average rating of “Buy” and a consensus target price of $212.71.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.24. The company had revenue of $12.97 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Facebook had a return on equity of 28.42% and a net margin of 40.03%.
Institutional investors have recently added to or reduced their stakes in the business. Country Trust Bank raised its stake in shares of Facebook by 550.6% in the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock worth $100,000 after purchasing an additional 479 shares during the last quarter. Armbruster Capital Management Inc. raised its stake in shares of Facebook by 358.4% in the fourth quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock worth $101,000 after purchasing an additional 448 shares during the last quarter. Taylor Hoffman Wealth Management purchased a new position in shares of Facebook in the fourth quarter worth $103,000. Price Wealth Management Inc. purchased a new position in shares of Facebook in the fourth quarter worth $105,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Facebook in the third quarter worth $111,000. 58.55% of the stock is currently owned by institutional investors and hedge funds.
In other Facebook news, CEO Mark Zuckerberg sold 140,200 shares of the business’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $153.55, for a total value of $21,527,710.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David B. Fischer sold 5,138 shares of the business’s stock in a transaction on Wednesday, April 25th. The stock was sold at an average price of $160.07, for a total value of $822,439.66. The disclosure for this sale can be found here. Insiders sold 8,351,229 shares of company stock worth $1,448,257,907 over the last three months. Corporate insiders own 17.23% of the company’s stock.
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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