Hello Group (NASDAQ:MOMO) Posts Quarterly Earnings Results

Hello Group (NASDAQ:MOMOGet Free Report) released its quarterly earnings results on Tuesday. The information services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02, Briefing.com reports. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Hello Group had a net margin of 16.27% and a return on equity of 17.23%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Hello Group updated its Q2 2024 guidance to EPS.

Hello Group Stock Up 10.3 %

Shares of MOMO stock traded up $0.50 during trading hours on Wednesday, hitting $5.34. 1,983,618 shares of the company’s stock traded hands, compared to its average volume of 2,044,745. The stock’s fifty day simple moving average is $5.89 and its two-hundred day simple moving average is $6.34. Hello Group has a 12-month low of $4.79 and a 12-month high of $11.12. The stock has a market cap of $773.77 million, a price-to-earnings ratio of 3.88, a PEG ratio of 1.09 and a beta of 0.67. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.16.

Hello Group Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 12th were issued a $0.52 dividend. The ex-dividend date was Thursday, April 11th. This represents a yield of 8.97%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MOMO shares. Citigroup reduced their price objective on Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a research note on Wednesday. Benchmark reduced their price objective on Hello Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley lowered shares of Hello Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 15th. Finally, StockNews.com lowered shares of Hello Group from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.35.

Read Our Latest Report on Hello Group

About Hello Group

(Get Free Report)

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.

See Also

Earnings History for Hello Group (NASDAQ:MOMO)

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