Analysts Set Expectations for eBay Inc.’s FY2018 Earnings (EBAY)
eBay Inc. (NASDAQ:EBAY) – Research analysts at Jefferies Group lifted their FY2018 earnings estimates for eBay in a note issued to investors on Monday. Jefferies Group analyst B. Fitzgerald now expects that the e-commerce company will post earnings per share of $1.67 for the year, up from their previous estimate of $1.60. Jefferies Group has a “Neutral” rating and a $38.00 price target on the stock.
eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. eBay had a return on equity of 15.69% and a net margin of 80.45%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $0.45 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis.
Several other equities analysts also recently commented on the company. Cantor Fitzgerald reaffirmed a “hold” rating on shares of eBay in a research report on Monday, June 26th. Aegis upped their target price on eBay from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. Goldman Sachs Group Inc set a $42.00 target price on eBay and gave the company a “buy” rating in a research report on Wednesday, June 28th. Robert W. Baird reaffirmed an “outperform” rating on shares of eBay in a research report on Monday, July 3rd. Finally, Credit Suisse Group set a $44.00 target price on eBay and gave the company a “buy” rating in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.22.
Shares of eBay (NASDAQ:EBAY) traded up 0.86% during mid-day trading on Thursday, hitting $37.61. The company’s stock had a trading volume of 15,105,890 shares. The company has a 50-day moving average of $38.08 and a 200 day moving average of $35.62. eBay has a 1-year low of $27.28 and a 1-year high of $39.28. The company has a market cap of $40.25 billion, a price-to-earnings ratio of 5.64 and a beta of 1.36.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors bought a new position in eBay in the 2nd quarter valued at about $108,000. BB&T Investment Services Inc. bought a new position in eBay in the 2nd quarter valued at about $119,000. Westside Investment Management Inc. lifted its position in eBay by 284.0% in the 1st quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after acquiring an additional 2,638 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in eBay in the 2nd quarter valued at about $123,000. Finally, FNY Partners Fund LP lifted its position in eBay by 660.0% in the 1st quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after acquiring an additional 3,300 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Stephen Fisher sold 11,956 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $36.24, for a total value of $433,285.44. Following the transaction, the senior vice president now owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian J. Doerger sold 10,450 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total transaction of $382,052.00. Following the completion of the transaction, the vice president now directly owns 24,001 shares in the company, valued at approximately $877,476.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,238 shares of company stock valued at $3,439,297. 6.78% of the stock is currently owned by company insiders.
eBay declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 20th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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