Research Analysts Set Expectations for Match Group, Inc.’s Q3 2017 Earnings (NASDAQ:MTCH)
Match Group, Inc. (NASDAQ:MTCH) – Jefferies Group reduced their Q3 2017 earnings per share (EPS) estimates for shares of Match Group in a note issued to investors on Thursday. Jefferies Group analyst B. Fitzgerald now anticipates that the technology company will post earnings of $0.18 per share for the quarter, down from their previous forecast of $0.20. Jefferies Group currently has a “Buy” rating and a $23.00 target price on the stock. Jefferies Group also issued estimates for Match Group’s FY2018 earnings at $0.82 EPS.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The firm had revenue of $309.57 million for the quarter, compared to analyst estimates of $310.36 million. Match Group had a return on equity of 36.94% and a net margin of 16.21%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share.
Other analysts have also recently issued research reports about the company. Vetr raised Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 target price for the company in a research report on Wednesday, May 17th. Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Aegis lifted their price objective on Match Group from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, BidaskClub cut Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. Match Group currently has a consensus rating of “Buy” and an average price target of $20.62.
Shares of Match Group (MTCH) opened at 18.79 on Monday. The firm’s 50-day moving average price is $17.93 and its 200 day moving average price is $17.79. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 26.73 and a beta of 0.64. Match Group has a 52 week low of $14.32 and a 52 week high of $20.75.
Match Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 2nd that authorizes the company to repurchase 6,000,000 shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Match Group news, insider Amarnath Thombre sold 116,126 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $19.63, for a total value of $2,279,553.38. Following the completion of the sale, the insider now owns 50,000 shares of the company’s stock, valued at $981,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.10% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in MTCH. State Board of Administration of Florida Retirement System boosted its stake in shares of Match Group by 20.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 101,401 shares of the technology company’s stock worth $1,762,000 after buying an additional 17,004 shares in the last quarter. Global Thematic Partners LLC bought a new stake in shares of Match Group during the second quarter worth $7,129,000. Bank of New York Mellon Corp boosted its stake in shares of Match Group by 17.8% in the second quarter. Bank of New York Mellon Corp now owns 284,405 shares of the technology company’s stock worth $4,943,000 after buying an additional 42,952 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Match Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 28,969 shares of the technology company’s stock worth $503,000 after buying an additional 75 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of Match Group during the second quarter worth $292,000. 20.89% of the stock is owned by institutional investors.
Match Group Company Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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