Facebook, Inc. (NASDAQ:FB) Expected to Post Quarterly Sales of $17.33 Billion

Equities analysts expect Facebook, Inc. (NASDAQ:FB) to post sales of $17.33 billion for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Facebook’s earnings. The lowest sales estimate is $16.84 billion and the highest is $17.81 billion. Facebook posted sales of $13.73 billion during the same quarter last year, which suggests a positive year over year growth rate of 26.2%. The firm is expected to report its next earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that Facebook will report full-year sales of $70.31 billion for the current year, with estimates ranging from $69.37 billion to $71.31 billion. For the next fiscal year, analysts forecast that the firm will post sales of $85.65 billion, with estimates ranging from $83.62 billion to $89.23 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Facebook.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 24th. The social networking company reported $1.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.09. The business had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. Facebook’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 EPS.

Several equities analysts have issued reports on the company. KeyCorp lifted their price objective on Facebook from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BMO Capital Markets cut their price objective on Facebook to $195.00 and set a “market perform” rating for the company in a research report on Tuesday, July 23rd. Deutsche Bank lifted their price objective on Facebook from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. ValuEngine downgraded Facebook from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub downgraded Facebook from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the company’s stock. Facebook currently has an average rating of “Buy” and an average price target of $220.92.

FB stock traded up $2.91 during trading on Friday, hitting $186.61. The company had a trading volume of 327,980 shares, compared to its average volume of 17,631,084. The company has a fifty day moving average price of $194.93 and a two-hundred day moving average price of $180.55. The company has a current ratio of 4.47, a quick ratio of 4.47 and a debt-to-equity ratio of 0.08. The company has a market cap of $520.92 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.07 and a beta of 0.99. Facebook has a fifty-two week low of $123.02 and a fifty-two week high of $208.66.

In related news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $181.62, for a total value of $9,989,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 133,100 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $188.66, for a total value of $25,110,646.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 861,811 shares of company stock valued at $160,552,094. 14.53% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FB. Whitnell & Co. acquired a new position in Facebook in the fourth quarter valued at about $26,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Facebook during the fourth quarter worth about $31,000. Cordasco Financial Network boosted its position in shares of Facebook by 70.0% during the second quarter. Cordasco Financial Network now owns 170 shares of the social networking company’s stock worth $33,000 after buying an additional 70 shares during the period. Shamrock Asset Management LLC acquired a new position in shares of Facebook during the second quarter worth about $38,000. Finally, Signet Investment Advisory Group Inc. acquired a new position in shares of Facebook during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 62.44% of the company’s stock.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Earnings History and Estimates for Facebook (NASDAQ:FB)

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