VNET Group (VNET) Scheduled to Post Earnings on Wednesday

VNET Group (NASDAQ:VNET) will release its earnings data after the market closes on Wednesday, May 29th. Analysts expect VNET Group to post earnings of $0.01 per share for the quarter. VNET Group has set its FY 2024 guidance at EPS.

VNET Group (NASDAQ:VNET) last announced its quarterly earnings data on Wednesday, March 27th. The information technology services provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.50). VNET Group had a negative return on equity of 11.15% and a negative net margin of 35.68%. The business had revenue of $267.40 million during the quarter, compared to analysts’ expectations of $289.41 million. On average, analysts expect VNET Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

VNET Group Price Performance

Shares of VNET Group stock opened at $1.86 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $2.16. The company has a market cap of $477.48 million, a PE ratio of -0.75 and a beta of -0.31. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $3.88.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VNET shares. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Friday, April 5th. Bank of America upgraded VNET Group from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $3.90 to $2.70 in a report on Tuesday, March 19th.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.