NQ Mobile Inc. (NQ) Announces Earnings Results, Misses Estimates By $0.05 EPS
NQ Mobile Inc. (NYSE:NQ) released its earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The business earned $91.10 million during the quarter, compared to analyst estimates of $95 million. NQ Mobile had a net margin of 2.70% and a return on equity of 8.26%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share.
Shares of NQ Mobile (NYSE:NQ) opened at 3.75 on Thursday. NQ Mobile has a 52 week low of $3.03 and a 52 week high of $5.35. The firm’s 50-day moving average price is $3.51 and its 200 day moving average price is $3.82. The firm has a market capitalization of $367.58 million, a price-to-earnings ratio of 36.41 and a beta of 2.04.
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Institutional investors have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp purchased a new position in shares of NQ Mobile during the second quarter valued at about $2,262,000. Cornerstone Capital Management Holdings LLC. bought a new stake in NQ Mobile during the third quarter valued at $2,332,000. BlackRock Fund Advisors raised its stake in NQ Mobile by 6,083.3% in the second quarter. BlackRock Fund Advisors now owns 333,282 shares of the company’s stock valued at $1,233,000 after buying an additional 327,892 shares in the last quarter. Hartwell J M Limited Partnership raised its stake in NQ Mobile by 57.2% in the third quarter. Hartwell J M Limited Partnership now owns 294,000 shares of the company’s stock valued at $1,123,000 after buying an additional 107,000 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in NQ Mobile by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 275,681 shares of the company’s stock valued at $1,053,000 after buying an additional 8,410 shares in the last quarter. Institutional investors own 8.82% of the company’s stock.
NQ has been the subject of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $13.00 target price on shares of NQ Mobile in a research note on Wednesday, August 24th. TheStreet upgraded NQ Mobile from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th.
NQ Mobile Company Profile
NQ Mobile Inc is a global provider of mobile Internet services. The Company provides a portfolio of offerings, including mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications, as well as other mobile applications.
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