Zacks: Analysts Anticipate Momo Inc. (NASDAQ:MOMO) Will Announce Earnings of $0.39 Per Share

Thursday, July 22, 2021 | MarketBeat

Wall Street brokerages forecast that Momo Inc. (NASDAQ:MOMO) will post $0.39 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Momo's earnings. The highest EPS estimate is $0.45 and the lowest is $0.32. Momo posted earnings of $0.43 per share in the same quarter last year, which would indicate a negative year over year growth rate of 9.3%. The company is scheduled to announce its next earnings report on Thursday, September 2nd.

On average, analysts expect that Momo will report full-year earnings of $1.64 per share for the current year, with EPS estimates ranging from $1.51 to $1.76. For the next year, analysts anticipate that the firm will report earnings of $1.88 per share, with EPS estimates ranging from $1.65 to $2.11. Zacks Investment Research's EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Momo.

Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Monday, June 7th. The information services provider reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.57. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.40 billion. Momo had a net margin of 13.65% and a return on equity of 14.10%. Momo's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.34 EPS.

A number of brokerages have issued reports on MOMO. Daiwa Capital Markets downgraded shares of Momo from an "outperform" rating to a "hold" rating in a report on Friday, March 26th. Morgan Stanley reduced their target price on shares of Momo from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Friday, July 16th. Zacks Investment Research downgraded shares of Momo from a "hold" rating to a "sell" rating in a report on Thursday. Citigroup upgraded shares of Momo from a "neutral" rating to a "buy" rating in a report on Friday, March 26th. Finally, DA Davidson downgraded shares of Momo from a "buy" rating to a "neutral" rating in a report on Friday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of "Hold" and a consensus price target of $19.19.

Shares of NASDAQ MOMO opened at $13.20 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.78 and a current ratio of 3.78. The company has a market cap of $2.19 billion, a P/E ratio of 9.43 and a beta of 1.47. The company has a fifty day moving average of $14.38. Momo has a 52-week low of $12.15 and a 52-week high of $22.05.

A number of large investors have recently modified their holdings of MOMO. Banco de Sabadell S.A bought a new position in Momo during the 1st quarter valued at about $29,000. Compagnie Lombard Odier SCmA bought a new position in Momo during the 1st quarter valued at about $59,000. Atlas Capital Advisors LLC grew its holdings in Momo by 209.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 4,600 shares of the information services provider's stock valued at $68,000 after purchasing an additional 3,113 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Momo by 8,790.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,779 shares of the information services provider's stock valued at $85,000 after purchasing an additional 5,714 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in Momo by 270.6% during the 1st quarter. Ensign Peak Advisors Inc now owns 9,450 shares of the information services provider's stock valued at $139,000 after purchasing an additional 6,900 shares during the last quarter. Institutional investors own 59.30% of the company's stock.

Momo Company Profile

Momo Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as live chats and mobile karaoke experience.

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