Meta Platforms (META) Scheduled to Post Quarterly Earnings on Wednesday

Meta Platforms (NASDAQ:META) will release its earnings data after the market closes on Wednesday, October 30th. Analysts expect Meta Platforms to post earnings of $5.15 per share for the quarter. Meta Platforms has set its Q3 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.23 EPS. On average, analysts expect Meta Platforms to post $21 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Meta Platforms Trading Up 1.2 %

Shares of META stock opened at $582.01 on Wednesday. The stock has a 50 day simple moving average of $547.72 and a 200 day simple moving average of $509.22. Meta Platforms has a 1 year low of $279.40 and a 1 year high of $602.95. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.48 trillion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 84 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $580.65, for a total transaction of $239,808.45. Following the completion of the transaction, the chief operating officer now owns 11,120 shares in the company, valued at approximately $6,456,828. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,324 shares of company stock valued at $132,218,368. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. UBS Group raised their price objective on Meta Platforms from $635.00 to $690.00 and gave the company a “buy” rating in a research note on Monday, October 7th. BMO Capital Markets boosted their target price on Meta Platforms from $475.00 to $525.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 9th. Tigress Financial raised their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Finally, TD Securities upped their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $619.20.

Meta Platforms Company Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.