Zynga Inc (ZNGA) Expected to Announce Quarterly Sales of $252.68 Million
Equities research analysts expect Zynga Inc (NASDAQ:ZNGA) to report sales of $252.68 million for the current quarter, Zacks reports. Six analysts have made estimates for Zynga’s earnings. The lowest sales estimate is $250.92 million and the highest is $255.00 million. Zynga reported sales of $223.79 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The business is expected to issue its next earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Zynga will report full-year sales of $957.60 million for the current year, with estimates ranging from $953.19 million to $973.61 million. For the next fiscal year, analysts forecast that the company will report sales of $1.10 billion, with estimates ranging from $1.01 billion to $1.17 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Zynga.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $233.24 million during the quarter, compared to analyst estimates of $224.54 million. Zynga had a return on equity of 1.89% and a net margin of 3.12%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS.
Shares of ZNGA traded down $0.18 during trading hours on Monday, hitting $3.61. The company had a trading volume of 16,997,800 shares, compared to its average volume of 14,570,886. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 120.33, a PEG ratio of 1.80 and a beta of 0.42. Zynga has a one year low of $3.20 and a one year high of $4.57.
In related news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $3.92, for a total transaction of $47,040.00. Following the transaction, the director now directly owns 213,277 shares of the company’s stock, valued at approximately $836,045.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark J. Pincus sold 437,322 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $3.70, for a total value of $1,618,091.40. The disclosure for this sale can be found here. Insiders have sold a total of 576,322 shares of company stock worth $2,177,796 over the last ninety days. 11.87% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Zynga by 19.0% during the 3rd quarter. BlackRock Inc. now owns 72,114,183 shares of the company’s stock valued at $289,178,000 after buying an additional 11,520,469 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Zynga by 4.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 39,695,436 shares of the company’s stock valued at $161,560,000 after buying an additional 1,689,711 shares in the last quarter. Iridian Asset Management LLC CT acquired a new position in shares of Zynga in the third quarter valued at about $153,074,000. Cadian Capital Management LP increased its holdings in shares of Zynga by 38.1% in the second quarter. Cadian Capital Management LP now owns 21,150,000 shares of the company’s stock valued at $86,081,000 after purchasing an additional 5,835,562 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Zynga by 21.3% in the third quarter. First Trust Advisors LP now owns 20,256,659 shares of the company’s stock valued at $81,229,000 after purchasing an additional 3,559,056 shares during the period. 74.60% of the stock is currently owned by institutional investors.
Zynga Company Profile
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.
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