Magnite (NASDAQ:MGNI – Get Free Report) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Magnite has set its Q1 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.
Magnite (NASDAQ:MGNI – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.13. Magnite had a negative net margin of 25.69% and a positive return on equity of 2.52%. The company had revenue of $165.28 million for the quarter, compared to the consensus estimate of $160.24 million. On average, analysts expect Magnite to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Magnite Stock Performance
Magnite stock opened at $9.37 on Tuesday. The company’s 50-day moving average price is $10.18 and its 200-day moving average price is $9.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.31 billion, a PE ratio of -7.56, a price-to-earnings-growth ratio of 0.67 and a beta of 2.29. Magnite has a twelve month low of $6.28 and a twelve month high of $15.73.
Wall Street Analysts Forecast Growth
View Our Latest Report on Magnite
Insider Activity at Magnite
In other news, CEO Michael G. Barrett sold 75,000 shares of Magnite stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $11.21, for a total transaction of $840,750.00. Following the completion of the sale, the chief executive officer now owns 1,234,662 shares of the company’s stock, valued at $13,840,561.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is currently owned by company insiders.
About Magnite
Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company's platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.
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