Meta Platforms, Inc. (NASDAQ:META) to Post Q2 2024 Earnings of $4.72 Per Share, Seaport Res Ptn Forecasts

Meta Platforms, Inc. (NASDAQ:META) – Equities research analysts at Seaport Res Ptn lowered their Q2 2024 EPS estimates for shares of Meta Platforms in a report issued on Wednesday, April 24th. Seaport Res Ptn analyst A. Kessler now expects that the social networking company will post earnings per share of $4.72 for the quarter, down from their prior forecast of $4.83. The consensus estimate for Meta Platforms’ current full-year earnings is $20.20 per share. Seaport Res Ptn also issued estimates for Meta Platforms’ Q3 2024 earnings at $4.75 EPS, Q4 2024 earnings at $6.00 EPS, FY2024 earnings at $20.19 EPS and FY2025 earnings at $22.36 EPS.

Several other research analysts have also weighed in on the stock. Guggenheim cut their price objective on shares of Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday. Oppenheimer lowered their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho raised their price objective on Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Finally, Tigress Financial raised their price target on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $509.18.

Meta Platforms Stock Performance

NASDAQ META opened at $443.29 on Monday. The business’s 50-day moving average price is $494.48 and its 200 day moving average price is $405.39. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms has a twelve month low of $229.85 and a twelve month high of $531.49. The company has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total value of $228,664.00. Following the sale, the insider now owns 34,720 shares of the company’s stock, valued at approximately $14,026,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $404.00, for a total value of $228,664.00. Following the transaction, the insider now owns 34,720 shares of the company’s stock, valued at approximately $14,026,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $501.18, for a total transaction of $245,578.20. Following the completion of the sale, the chief operating officer now owns 7,089 shares in the company, valued at $3,552,865.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,277,048 shares of company stock valued at $620,679,759. 13.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Meta Platforms

Large investors have recently modified their holdings of the stock. Stone House Investment Management LLC lifted its holdings in shares of Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Quest Partners LLC acquired a new stake in Meta Platforms during the 4th quarter worth about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Meta Platforms during the first quarter valued at about $44,000. Clear Investment Research LLC lifted its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in shares of Meta Platforms in the fourth quarter worth about $39,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Company Profile

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.