JOYY (NASDAQ:JOYY) Announces Earnings Results, Beats Estimates By $0.17 EPS

JOYY (NASDAQ:JOYY) released its earnings results on Wednesday. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.17, RTT News reports. JOYY had a return on equity of 4.81% and a net margin of 82.39%.

JOYY Stock Performance

JOYY traded up $0.59 during midday trading on Wednesday, reaching $59.94. 405,365 shares of the company were exchanged, compared to its average volume of 444,060. The stock has a fifty day moving average of $59.48. JOYY has a one year low of $33.83 and a one year high of $64.76. The company has a market cap of $3.12 billion, a P/E ratio of 1.86 and a beta of 0.29.

JOYY Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 22nd were issued a $0.95 dividend. The ex-dividend date was Monday, September 22nd. JOYY’s dividend payout ratio (DPR) is currently 11.73%.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently modified their holdings of JOYY. Sittner & Nelson LLC bought a new position in JOYY during the third quarter valued at about $29,000. Ameriprise Financial Inc. bought a new position in shares of JOYY during the 3rd quarter valued at approximately $442,000. Public Employees Retirement System of Ohio bought a new position in shares of JOYY during the 3rd quarter valued at approximately $9,204,000. Finally, Stonehill Capital Management LLC purchased a new stake in shares of JOYY during the 3rd quarter worth approximately $80,885,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on JOYY. Weiss Ratings upgraded shares of JOYY from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Citigroup restated a “buy” rating on shares of JOYY in a report on Tuesday, September 2nd. Finally, Zacks Research raised JOYY to a “hold” rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

About JOYY

JOYY Inc, through its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as live talk with other users, make video calls, and watch trend videos; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls, text messages, and photo and video sharing.