By otakuyassine3@gmail.com 
Meta Platforms (NASDAQ:META – Get Free Report) is projected to announce its earnings results after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $6.75 per share and revenue of $46,963,410.95 billion for the quarter. Meta Platforms has set its Q4 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, analysts expect Meta Platforms to post $23 EPS for the current fiscal year and $26 EPS for the next fiscal year.
Meta Platforms Trading Up 1.9 %
Shares of Meta Platforms stock opened at $659.88 on Tuesday. The firm has a fifty day moving average price of $604.04 and a 200 day moving average price of $561.55. The stock has a market cap of $1.67 trillion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Meta Platforms has a 1 year low of $387.10 and a 1 year high of $663.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is presently 9.42%.
Analyst Ratings Changes
Several brokerages recently weighed in on META. Scotiabank cut their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a report on Monday. Wedbush restated an “outperform” rating and issued a $700.00 target price (up previously from $680.00) on shares of Meta Platforms in a research report on Wednesday, January 22nd. Finally, Wolfe Research raised their price objective on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $654.20.
Read Our Latest Analysis on Meta Platforms
Insider Buying and Selling
In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total value of $511,497.70. Following the transaction, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 603,032 shares of company stock worth $368,666,614 in the last 90 days. Company insiders own 13.71% of the company’s stock.
About Meta Platforms
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
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