JOYY (NASDAQ:JOYY) Announces Quarterly Earnings Results

JOYY (NASDAQ:JOYY) posted its earnings results on Monday. The company reported $1.11 earnings per share (EPS) for the quarter, FiscalAI reports. JOYY had a net margin of 98.79% and a return on equity of 3.93%. The firm had revenue of $555.70 million during the quarter.

JOYY Stock Performance

Shares of JOYY stock opened at $54.42 on Tuesday. JOYY has a 52-week low of $42.00 and a 52-week high of $70.96. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 1.39 and a beta of 0.42. The company’s 50 day moving average price is $58.96 and its 200-day moving average price is $62.02.

JOYY Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Wednesday, April 22nd were issued a $1.38 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $5.52 annualized dividend and a dividend yield of 10.1%. JOYY’s dividend payout ratio (DPR) is currently 14.09%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on JOYY shares. Zacks Research upgraded shares of JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. UBS Group assumed coverage on shares of JOYY in a research note on Wednesday, March 11th. They issued a “buy” rating and a $80.00 target price for the company. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. DGS Capital Management LLC grew its holdings in shares of JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock worth $221,000 after purchasing an additional 211 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in JOYY by 167.7% in the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after acquiring an additional 384 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in JOYY in the third quarter valued at $27,000. Sittner & Nelson LLC bought a new stake in JOYY in the third quarter valued at $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in JOYY in the third quarter valued at $142,000. Institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.