eBay (NASDAQ:EBAY) Posts Quarterly Earnings Results

eBay (NASDAQ:EBAYGet Rating) posted its quarterly earnings results on Wednesday. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.09, RTT News reports. eBay had a return on equity of 24.42% and a net margin of 3.60%. During the same period last year, the company posted $0.82 EPS.

eBay Stock Performance

NASDAQ:EBAY traded down $0.59 during mid-day trading on Friday, hitting $47.28. The stock had a trading volume of 5,487,413 shares, compared to its average volume of 5,163,324. eBay has a twelve month low of $40.52 and a twelve month high of $81.19. The stock has a market cap of $26.47 billion, a price-to-earnings ratio of 112.57, a PEG ratio of 2.02 and a beta of 1.22. The company’s 50 day simple moving average is $45.11 and its 200 day simple moving average is $51.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.48 and a current ratio of 1.28.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Thursday, September 1st will be paid a $0.22 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.88 annualized dividend and a yield of 1.86%. eBay’s dividend payout ratio (DPR) is currently 209.53%.

Insider Activity at eBay

In other eBay news, CAO Brian J. Doerger sold 7,942 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $45.16, for a total value of $358,660.72. Following the transaction, the chief accounting officer now directly owns 18,562 shares of the company’s stock, valued at approximately $838,259.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Brian J. Doerger sold 7,942 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $45.16, for a total value of $358,660.72. Following the transaction, the chief accounting officer now directly owns 18,562 shares in the company, valued at $838,259.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian J. Doerger sold 3,633 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $47.95, for a total transaction of $174,202.35. Following the completion of the transaction, the chief accounting officer now owns 14,929 shares in the company, valued at $715,845.55. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On eBay

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in eBay by 307.3% during the first quarter. Renaissance Technologies LLC now owns 797,290 shares of the e-commerce company’s stock worth $45,653,000 after buying an additional 601,522 shares in the last quarter. Prudential Financial Inc. grew its stake in eBay by 28.4% during the first quarter. Prudential Financial Inc. now owns 2,557,330 shares of the e-commerce company’s stock worth $146,433,000 after buying an additional 565,378 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in eBay during the first quarter worth about $14,904,000. Charles Schwab Investment Management Inc. grew its stake in eBay by 4.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,264,763 shares of the e-commerce company’s stock worth $186,941,000 after buying an additional 130,287 shares in the last quarter. Finally, Eaton Vance Management grew its stake in eBay by 31.9% during the first quarter. Eaton Vance Management now owns 513,909 shares of the e-commerce company’s stock worth $29,428,000 after buying an additional 124,186 shares in the last quarter. 88.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of analyst reports. The Goldman Sachs Group downgraded shares of eBay from a “neutral” rating to a “sell” rating and cut their price target for the company from $52.00 to $42.00 in a research report on Thursday, June 9th. JPMorgan Chase & Co. decreased their price target on shares of eBay from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, June 29th. Robert W. Baird upped their price objective on shares of eBay from $54.00 to $60.00 in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of eBay from $65.00 to $58.00 in a research report on Friday, May 6th. Finally, Barclays lowered their price objective on shares of eBay from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus target price of $60.89.

About eBay

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eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.

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Earnings History for eBay (NASDAQ:EBAY)

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