eBay (NASDAQ:EBAY) Announces Quarterly Earnings Results

eBay (NASDAQ:EBAY) issued its earnings results on Wednesday. The e-commerce company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05, RTT News reports. eBay had a net margin of 27.36% and a return on equity of 29.16%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. eBay updated its Q2 guidance to $1.10-1.15 EPS and its Q2 2024 guidance to 1.100-1.150 EPS.

eBay Stock Down 0.9 %

Shares of eBay stock opened at $51.06 on Thursday. eBay has a twelve month low of $37.17 and a twelve month high of $52.93. The stock has a market capitalization of $25.86 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 2.05 and a beta of 1.31. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09. The business’s 50 day simple moving average is $50.60 and its 200-day simple moving average is $44.74.

eBay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.12%. eBay’s dividend payout ratio (DPR) is 20.69%.

eBay declared that its board has approved a stock buyback plan on Tuesday, February 27th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the e-commerce company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Edward O. Garcia sold 1,165 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the transaction, the senior vice president now owns 31,888 shares of the company’s stock, valued at $1,372,140.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on EBAY. Wells Fargo & Company raised their price objective on eBay from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Barclays increased their price objective on shares of eBay from $55.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of eBay from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. StockNews.com raised shares of eBay from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, UBS Group boosted their price objective on shares of eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.17.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.