Zacks: Brokerages Anticipate Hello Group Inc. (NASDAQ:MOMO) Will Post Quarterly Sales of $479.97 Million

Brokerages expect that Hello Group Inc. (NASDAQ:MOMOGet Rating) will announce sales of $479.97 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Hello Group’s earnings, with the highest sales estimate coming in at $487.82 million and the lowest estimate coming in at $472.11 million. Hello Group reported sales of $529.72 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.4%. The company is scheduled to issue its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Hello Group will report full-year sales of $2.07 billion for the current year, with estimates ranging from $2.00 billion to $2.12 billion. For the next year, analysts anticipate that the company will report sales of $2.17 billion, with estimates ranging from $2.12 billion to $2.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Hello Group.

Hello Group (NASDAQ:MOMOGet Rating) last posted its quarterly earnings results on Thursday, March 24th. The information services provider reported ($3.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($3.54). The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.62 billion. Hello Group had a negative return on equity of 21.68% and a negative net margin of 20.41%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share.

Several equities analysts have weighed in on MOMO shares. JPMorgan Chase & Co. lowered shares of Hello Group from an “overweight” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Monday, March 14th. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Zacks Investment Research raised shares of Hello Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Hello Group presently has an average rating of “Hold” and a consensus price target of $11.90.

A number of institutional investors and hedge funds have recently made changes to their positions in MOMO. Quantbot Technologies LP purchased a new stake in shares of Hello Group in the 1st quarter valued at approximately $32,000. River & Mercantile Asset Management LLP increased its position in shares of Hello Group by 27.0% in the 1st quarter. River & Mercantile Asset Management LLP now owns 116,723 shares of the information services provider’s stock valued at $675,000 after purchasing an additional 24,830 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Hello Group by 34.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,344,488 shares of the information services provider’s stock valued at $30,891,000 after purchasing an additional 1,360,406 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Hello Group by 45.7% in the 1st quarter. Wellington Management Group LLP now owns 1,587,415 shares of the information services provider’s stock valued at $9,176,000 after purchasing an additional 497,844 shares during the last quarter. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Hello Group in the 1st quarter valued at $66,000. 60.44% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MOMO opened at $6.24 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.74 and a quick ratio of 3.74. The firm has a market capitalization of $987.00 million, a price-to-earnings ratio of -2.60 and a beta of 1.24. The company’s 50-day moving average is $5.27 and its two-hundred day moving average is $7.81. Hello Group has a 1-year low of $4.14 and a 1-year high of $16.33.

The firm also recently announced a — dividend, which was paid on Friday, April 29th. Investors of record on Wednesday, April 13th were paid a dividend of $0.62 per share. The ex-dividend date was Tuesday, April 12th.

Hello Group Company Profile (Get Rating)

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.

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