Facebook, Inc. (NASDAQ:FB) Expected to Post Earnings of $2.36 Per Share

Thursday, April 8, 2021 | MarketBeat

Wall Street brokerages forecast that Facebook, Inc. (NASDAQ:FB) will announce earnings per share of $2.36 for the current quarter, according to Zacks Investment Research. Fourteen analysts have provided estimates for Facebook's earnings. The highest EPS estimate is $2.71 and the lowest is $2.00. Facebook reported earnings per share of $1.71 during the same quarter last year, which indicates a positive year over year growth rate of 38%. The company is scheduled to report its next earnings report after the market closes on Wednesday, May 5th.

On average, analysts expect that Facebook will report full-year earnings of $11.28 per share for the current year, with EPS estimates ranging from $9.94 to $12.02. For the next financial year, analysts expect that the firm will report earnings of $13.57 per share, with EPS estimates ranging from $10.96 to $14.89. Zacks' earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Facebook.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 27th. The social networking company reported $3.88 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $3.24 by $0.64. Facebook had a return on equity of 23.27% and a net margin of 32.00%. The company had revenue of $28.10 million for the quarter, compared to the consensus estimate of $26.43 billion. During the same quarter last year, the business posted $2.56 earnings per share. The firm's revenue was up 33.2% compared to the same quarter last year.

Several research firms have recently weighed in on FB. Evercore ISI restated an "outperform" rating and set a $370.00 price objective on shares of Facebook in a research report on Tuesday. UBS Group raised their price target on Facebook from $330.00 to $350.00 and gave the company a "buy" rating in a research report on Thursday, January 28th. KeyCorp upped their price objective on Facebook from $345.00 to $360.00 and gave the stock an "overweight" rating in a report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Facebook from $355.00 to $385.00 and gave the company a "buy" rating in a report on Monday, March 29th. Finally, Raymond James upped their target price on Facebook from $320.00 to $360.00 and gave the stock a "strong-buy" rating in a research note on Thursday, January 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the stock. Facebook currently has an average rating of "Buy" and a consensus target price of $327.15.

Shares of FB opened at $313.09 on Thursday. Facebook has a 1-year low of $167.74 and a 1-year high of $314.25. The company has a market capitalization of $891.58 billion, a P/E ratio of 35.66, a P/E/G ratio of 1.29 and a beta of 1.18. The firm's 50 day simple moving average is $275.55 and its 200 day simple moving average is $271.28.

In other news, CFO David M. Wehner sold 678 shares of the company's stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $289.99, for a total transaction of $196,613.22. Following the completion of the sale, the chief financial officer now owns 34,425 shares of the company's stock, valued at approximately $9,982,905.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 8,000 shares of the stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $307.20, for a total transaction of $2,457,600.00. The disclosure for this sale can be found here. Insiders sold 1,436,094 shares of company stock valued at $390,590,898 over the last quarter. Company insiders own 14.14% of the company's stock.

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in Facebook in the 4th quarter worth $8,021,574,000. Morgan Stanley boosted its stake in Facebook by 44.5% during the fourth quarter. Morgan Stanley now owns 30,382,192 shares of the social networking company's stock valued at $8,299,199,000 after buying an additional 9,362,408 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Facebook by 1,791.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,405,858 shares of the social networking company's stock valued at $18,849,000 after buying an additional 7,014,302 shares during the last quarter. Cibc World Markets Corp grew its holdings in Facebook by 357.0% during the 4th quarter. Cibc World Markets Corp now owns 4,219,334 shares of the social networking company's stock valued at $1,152,553,000 after buying an additional 3,296,086 shares in the last quarter. Finally, D1 Capital Partners L.P. increased its stake in Facebook by 64.4% in the 4th quarter. D1 Capital Partners L.P. now owns 3,642,789 shares of the social networking company's stock worth $995,064,000 after acquiring an additional 1,427,000 shares during the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.

About Facebook

Facebook, Inc develops products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and private messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application that is used by people and businesses to communicate in a private way.

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