Zynga Inc (ZNGA) Expected to Announce Earnings of $0.03 Per Share

Brokerages expect Zynga Inc (NASDAQ:ZNGA) to report earnings per share (EPS) of $0.03 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Zynga’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.04. Zynga reported earnings of $0.02 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The firm is expected to announce its next earnings results on Wednesday, August 1st.

On average, analysts expect that Zynga will report full year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.12 to $0.18. For the next fiscal year, analysts forecast that the firm will report earnings of $0.19 per share, with EPS estimates ranging from $0.17 to $0.22. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Zynga.

Zynga (NASDAQ:ZNGA) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $208.23 million for the quarter, compared to analysts’ expectations of $204.05 million. Zynga had a net margin of 4.77% and a return on equity of 2.57%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS.

A number of research firms have commented on ZNGA. BidaskClub raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. Wedbush reaffirmed a “buy” rating and issued a $6.00 target price on shares of Zynga in a research report on Monday, April 30th. ValuEngine raised shares of Zynga from a “hold” rating to a “buy” rating in a research report on Monday, May 7th. Jefferies Financial Group reiterated a “buy” rating and set a $5.00 price target on shares of Zynga in a research note on Friday, May 11th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $5.00 price target on shares of Zynga in a research note on Tuesday, May 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $4.47.

In related news, Director Ellen F. Siminoff sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $4.11, for a total value of $49,320.00. Following the completion of the transaction, the director now directly owns 234,743 shares of the company’s stock, valued at $964,793.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Matthew S. Bromberg sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $3.57, for a total value of $71,400.00. Following the completion of the sale, the chief operating officer now directly owns 340,056 shares of the company’s stock, valued at $1,213,999.92. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock worth $208,560 over the last 90 days. Insiders own 11.87% of the company’s stock.

Several hedge funds have recently bought and sold shares of ZNGA. OppenheimerFunds Inc. lifted its holdings in shares of Zynga by 111.8% during the fourth quarter. OppenheimerFunds Inc. now owns 20,071,799 shares of the company’s stock worth $80,287,000 after purchasing an additional 10,596,901 shares during the period. Swiss National Bank increased its position in shares of Zynga by 2.8% in the fourth quarter. Swiss National Bank now owns 1,322,953 shares of the company’s stock valued at $5,292,000 after buying an additional 36,100 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Zynga by 317.1% in the fourth quarter. Teacher Retirement System of Texas now owns 265,929 shares of the company’s stock valued at $1,064,000 after buying an additional 202,166 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in shares of Zynga in the fourth quarter valued at $980,000. Finally, Spark Investment Management LLC increased its position in shares of Zynga by 54.7% in the fourth quarter. Spark Investment Management LLC now owns 4,241,800 shares of the company’s stock valued at $16,967,000 after buying an additional 1,499,600 shares in the last quarter. 70.56% of the stock is owned by institutional investors and hedge funds.

Shares of Zynga opened at $4.29 on Monday, MarketBeat.com reports. The stock has a market cap of $3.76 billion, a PE ratio of 143.00, a PEG ratio of 2.41 and a beta of 0.56. Zynga has a twelve month low of $3.20 and a twelve month high of $4.57.

About Zynga

Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as iOS and Android operating systems, as well as on social networking sites, including Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual goods and sponsorships to advertising agencies and brokers; and software licensing and maintenance services related to NaturalMotion technology, as well as licenses its own brands.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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