Wall Street brokerages expect that Meet Group Inc (NASDAQ:MEET) will report earnings per share of $0.09 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Meet Group’s earnings. The highest EPS estimate is $0.09 and the lowest is $0.08. Meet Group posted earnings per share of $0.11 in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.2%. The company is scheduled to report its next earnings report before the market opens on Wednesday, November 7th.
On average, analysts expect that Meet Group will report full year earnings of $0.31 per share for the current year, with EPS estimates ranging from $0.30 to $0.32. For the next financial year, analysts anticipate that the business will report earnings of $0.38 per share, with EPS estimates ranging from $0.31 to $0.44. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Meet Group.
Meet Group (NASDAQ:MEET) last posted its earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Meet Group had a positive return on equity of 10.24% and a negative net margin of 45.79%. The business had revenue of $42.80 million during the quarter, compared to analyst estimates of $38.25 million.
Shares of MEET stock traded down $0.16 during trading hours on Friday, reaching $4.12. The company had a trading volume of 861,700 shares, compared to its average volume of 1,059,590. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. Meet Group has a twelve month low of $1.84 and a twelve month high of $5.63. The firm has a market cap of $324.76 million, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 1.11 and a beta of 1.60.
In other Meet Group news, major shareholder Luxor Capital Group, Lp acquired 87,415 shares of the stock in a transaction on Friday, October 12th. The stock was purchased at an average price of $4.72 per share, for a total transaction of $412,598.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 1,419,548 shares of company stock valued at $6,395,000. 6.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MEET. Wells Fargo & Company MN grew its stake in Meet Group by 40.2% during the 1st quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after purchasing an additional 44,624 shares in the last quarter. Northern Trust Corp grew its position in shares of Meet Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock worth $1,552,000 after acquiring an additional 26,067 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Meet Group by 167.5% in the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock worth $126,000 after acquiring an additional 37,677 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Meet Group by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,998,792 shares of the information services provider’s stock worth $12,537,000 after acquiring an additional 328,995 shares in the last quarter. Finally, Hartford Investment Management Co. acquired a new position in shares of Meet Group in the 2nd quarter worth approximately $428,000. Hedge funds and other institutional investors own 51.76% of the company’s stock.
About Meet Group
The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.
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