JOYY Inc., together with 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 showcase talents, socialize, and connect with other users worldwide; 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 and other communication tools, such as group calls, document sharing, etc.. It operates in the People's Republic of China, the United States, the Great Britain, Japan, South Korea, Australia, the Middle East, and Southeast Asia and others. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on YY. TheStreet lowered JOYY from a "c-" rating to a "d+" rating in a research note on Friday, July 22nd. JPMorgan Chase & Co. upgraded JOYY from an "underweight" rating to a "neutral" rating and set a $40.00 price objective for the company in a research note on Monday, May 16th. Finally, Morgan Stanley lowered JOYY from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, JOYY currently has a consensus rating of "Hold" and a consensus target price of $53.00.
JOYY Trading Up 1.2 %
YY traded up $0.33 during trading hours on Tuesday, reaching $28.21. The company's stock had a trading volume of 454,903 shares, compared to its average volume of 742,296. JOYY has a fifty-two week low of $23.14 and a fifty-two week high of $67.67. The stock has a market cap of $2.20 billion, a PE ratio of -30.66 and a beta of 0.61. The business's 50-day moving average is $28.64 and its 200-day moving average is $36.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96.
JOYY (NASDAQ:YY - Get Rating) last released its quarterly earnings results on Tuesday, May 31st. The information services provider reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.04. JOYY had a positive return on equity of 2.62% and a negative net margin of 2.24%. The company had revenue of $623.78 million for the quarter, compared to analysts' expectations of $604.63 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, equities research analysts predict that JOYY will post 0.02 earnings per share for the current fiscal year.
JOYY Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Thursday, June 23rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date was Wednesday, June 22nd. JOYY's dividend payout ratio is currently -220.65%.