$11.39 Billion in Sales Expected for Facebook Inc (FB) This Quarter

Equities analysts predict that Facebook Inc (NASDAQ:FB) will announce $11.39 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have made estimates for Facebook’s earnings, with estimates ranging from $10.59 billion to $11.68 billion. Facebook posted sales of $8.03 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 41.8%. The firm is expected to report its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that Facebook will report full year sales of $11.39 billion for the current financial year, with estimates ranging from $53.65 billion to $56.82 billion. For the next year, analysts expect that the business will report sales of $70.23 billion per share, with estimates ranging from $68.21 billion to $74.00 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Facebook.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The firm had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion.

FB has been the subject of several recent analyst reports. Barclays upped their target price on shares of Facebook from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Needham & Company LLC upped their target price on shares of Facebook from $185.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Wedbush set a $225.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Monday, October 30th. Morgan Stanley set a $215.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Friday, January 12th. Finally, Atlantic Securities set a $215.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, forty-two have given a buy rating and two have issued a strong buy rating to the stock. Facebook currently has a consensus rating of “Buy” and an average target price of $214.70.

Facebook (NASDAQ:FB) opened at $177.91 on Thursday. The firm has a market cap of $511,309.03, a price-to-earnings ratio of 33.01, a P/E/G ratio of 0.91 and a beta of 0.59. Facebook has a 1-year low of $133.46 and a 1-year high of $195.32.

In other news, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $171.60, for a total transaction of $128,700.00. Following the transaction, the vice president now directly owns 84,246 shares in the company, valued at $14,456,613.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Todd Schroepfer sold 38,017 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the transaction, the insider now owns 381,521 shares in the company, valued at $71,661,089.43. The disclosure for this sale can be found here. Insiders sold a total of 2,762,530 shares of company stock worth $490,711,179 over the last 90 days. Insiders own 17.23% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Country Trust Bank lifted its position in Facebook by 550.6% during the fourth quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after acquiring an additional 479 shares during the last quarter. Armbruster Capital Management Inc. lifted its position in Facebook by 358.4% during the fourth quarter. Armbruster Capital Management Inc. now owns 573 shares of the social networking company’s stock valued at $101,000 after acquiring an additional 448 shares during the last quarter. Taylor Hoffman Wealth Management purchased a new stake in Facebook during the fourth quarter valued at approximately $103,000. Price Wealth Management Inc. purchased a new stake in Facebook during the fourth quarter valued at approximately $105,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Facebook in the third quarter worth $111,000. Hedge funds and other institutional investors own 57.32% of the company’s stock.

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About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

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Earnings History and Estimates for Facebook (NASDAQ:FB)

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