Meta Platforms (META) Scheduled to Post Earnings on Wednesday

Meta Platforms (NASDAQ:METAGet Free Report) is set to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $4.27 per share for the quarter. Meta Platforms has set its Q1 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter last year, the company earned $3.00 earnings per share. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, analysts expect Meta Platforms to post $20 EPS for the current fiscal year and $23 EPS for the next fiscal year.

Meta Platforms Trading Down 4.1 %

NASDAQ META opened at $481.07 on Monday. Meta Platforms has a 52 week low of $207.13 and a 52 week high of $531.49. The firm has a 50 day moving average of $494.55 and a two-hundred day moving average of $399.98. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.23 trillion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. Meta Platforms’s payout ratio is currently 13.42%.

Analyst Ratings Changes

A number of analysts have issued reports on META shares. Tigress Financial lifted their price target on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a report on Friday, February 9th. Royal Bank of Canada upped their price target on Meta Platforms from $400.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Wells Fargo & Company cut their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Truist Financial increased their target price on shares of Meta Platforms from $525.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Susquehanna upped their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $519.53.

View Our Latest Stock Report on META

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $385.00, for a total transaction of $217,910.00. Following the completion of the transaction, the insider now directly owns 35,286 shares of the company’s stock, valued at $13,585,110. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,392,501 shares of company stock worth $666,506,318. Corporate insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Meta Platforms

Institutional investors and hedge funds have recently made changes to their positions in the business. MBM Wealth Consultants LLC acquired a new position in Meta Platforms during the fourth quarter worth about $26,000. Stephens Investment Management Group LLC purchased a new position in shares of Meta Platforms during the 2nd quarter worth approximately $30,000. Providence Capital Advisors LLC raised its position in shares of Meta Platforms by 21,095.0% during the 1st quarter. Providence Capital Advisors LLC now owns 8,478 shares of the social networking company’s stock worth $40,000 after purchasing an additional 8,438 shares during the last quarter. Red Tortoise LLC lifted its stake in Meta Platforms by 32.2% in the 1st quarter. Red Tortoise LLC now owns 189 shares of the social networking company’s stock valued at $40,000 after buying an additional 46 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $45,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Company Profile

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Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Earnings History for Meta Platforms (NASDAQ:META)

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