Meta Platforms FY2024 EPS Forecast Boosted by Roth Capital

Meta Platforms, Inc. (NASDAQ:METAFree Report) – Equities researchers at Roth Capital lifted their FY2024 earnings per share (EPS) estimates for shares of Meta Platforms in a report released on Tuesday, January 21st. Roth Capital analyst R. Kulkarni now anticipates that the social networking company will post earnings per share of $22.49 for the year, up from their previous estimate of $22.40. The consensus estimate for Meta Platforms’ current full-year earnings is $22.96 per share. Roth Capital also issued estimates for Meta Platforms’ Q4 2024 earnings at $6.60 EPS, Q1 2025 earnings at $5.64 EPS, Q2 2025 earnings at $6.15 EPS, Q3 2025 earnings at $6.35 EPS, Q4 2025 earnings at $7.54 EPS and FY2025 earnings at $25.68 EPS.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion.

Other analysts have also recently issued research reports about the company. Roth Mkm increased their price objective on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Piper Sandler increased their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. JMP Securities boosted their price objective on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research note on Thursday, January 2nd. Scotiabank lowered their target price on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Finally, Robert W. Baird boosted their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $652.98.

Get Our Latest Stock Analysis on Meta Platforms

Meta Platforms Trading Up 1.1 %

NASDAQ:META opened at $623.50 on Wednesday. The company has a market cap of $1.57 trillion, a P/E ratio of 29.37, a P/E/G ratio of 1.16 and a beta of 1.19. Meta Platforms has a 1 year low of $382.08 and a 1 year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The stock’s fifty day moving average price is $598.87 and its two-hundred day moving average price is $558.76.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 18,644 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.55, for a total value of $10,320,386.20. Following the completion of the sale, the chief financial officer now directly owns 46,769 shares in the company, valued at $25,888,979.95. This trade represents a 28.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 567,111 shares of company stock worth $345,453,784. Company insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC boosted its position in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after buying an additional 890,434 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after buying an additional 661,923 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Company Profile

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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.

See Also

Earnings History and Estimates for Meta Platforms (NASDAQ:META)

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