Zacks: Analysts Anticipate eBay Inc. (EBAY) Will Announce Quarterly Sales of $2.37 Billion

Wall Street analysts predict that eBay Inc. (NASDAQ:EBAY) will post sales of $2.37 billion for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for eBay’s earnings, with the lowest sales estimate coming in at $2.35 billion and the highest estimate coming in at $2.39 billion. eBay posted sales of $2.22 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The firm is scheduled to issue its next earnings results on Wednesday, October 18th.

On average, analysts expect that eBay will report full year sales of $2.37 billion for the current year, with estimates ranging from $9.39 billion to $9.56 billion. For the next year, analysts forecast that the company will report sales of $10.04 billion per share, with estimates ranging from $9.83 billion to $10.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for eBay.

eBay (NASDAQ:EBAY) last released its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis.

EBAY has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) set a $42.00 target price on shares of eBay and gave the company a “buy” rating in a research note on Wednesday, June 28th. Aegis raised their target price on shares of eBay from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. reiterated a “buy” rating and issued a $41.00 price target (up from $36.00) on shares of eBay in a research report on Thursday, June 8th. Credit Suisse Group upgraded shares of eBay from a “neutral” rating to an “outperform” rating and increased their price target for the company from $34.00 to $44.00 in a research report on Monday, June 5th. Finally, Morgan Stanley set a $29.00 price target on shares of eBay and gave the company a “sell” rating in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $37.24.

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Shares of eBay (NASDAQ EBAY) opened at 38.40 on Friday. The stock’s 50 day moving average is $36.01 and its 200-day moving average is $34.77. eBay has a 12-month low of $27.28 and a 12-month high of $38.87. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 5.76 and a beta of 1.34.

eBay announced that its board has authorized a share buyback program on Thursday, July 20th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the e-commerce company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

In related news, Director Robert Holmes Swan sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $37.51, for a total value of $937,750.00. Following the completion of the transaction, the director now owns 262,119 shares of the company’s stock, valued at $9,832,083.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $35.00, for a total value of $1,219,120.00. Following the completion of the transaction, the senior vice president now directly owns 83,058 shares of the company’s stock, valued at approximately $2,907,030. The disclosure for this sale can be found here. Insiders have sold 95,238 shares of company stock valued at $3,439,297 in the last three months. Insiders own 6.78% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors acquired a new position in eBay in the second quarter valued at about $108,000. BB&T Investment Services Inc. acquired a new position in eBay in the second quarter valued at about $119,000. Westside Investment Management Inc. raised its stake in eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after purchasing an additional 2,638 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in eBay in the second quarter valued at about $123,000. Finally, FNY Partners Fund LP raised its stake in eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 3,300 shares in the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.

About eBay

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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Earnings History and Estimates for eBay (NASDAQ:EBAY)

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