VNET Group (VNET) to Release Earnings on Wednesday

VNET Group (NASDAQ:VNET) will be issuing its quarterly earnings data after the market closes on Wednesday, November 20th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. VNET Group has set its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The business had revenue of $274.35 million during the quarter, compared to the consensus estimate of $266.56 million. On average, analysts expect VNET Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

VNET Group Price Performance

Shares of NASDAQ:VNET opened at $3.48 on Wednesday. The company’s fifty day moving average is $3.49 and its two-hundred day moving average is $2.56. The company has a market cap of $895.75 million, a P/E ratio of -1.49, a price-to-earnings-growth ratio of 7.23 and a beta of -0.27. VNET Group has a 12-month low of $1.39 and a 12-month high of $4.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HSBC raised VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research note on Wednesday, October 9th. Citigroup started coverage on shares of VNET Group in a report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price target for the company. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, VNET Group presently has a consensus rating of “Buy” and an average target price of $3.97.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.