Brokerages Anticipate Meet Group Inc (NASDAQ:MEET) Will Post Quarterly Sales of $50.60 Million

Equities research analysts predict that Meet Group Inc (NASDAQ:MEET) will report sales of $50.60 million for the current quarter, Zacks reports. Three analysts have provided estimates for Meet Group’s earnings, with the highest sales estimate coming in at $50.70 million and the lowest estimate coming in at $50.50 million. Meet Group reported sales of $45.72 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Meet Group will report full year sales of $210.27 million for the current fiscal year, with estimates ranging from $209.60 million to $210.70 million. For the next year, analysts expect that the company will report sales of $233.70 million, with estimates ranging from $221.70 million to $242.10 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Meet Group.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings results on Wednesday, July 31st. The information services provider reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Meet Group had a return on equity of 11.30% and a net margin of 4.53%. The business had revenue of $52.00 million for the quarter, compared to analyst estimates of $50.67 million.

MEET has been the subject of a number of recent research reports. Zacks Investment Research cut Meet Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Oppenheimer began coverage on shares of Meet Group in a research note on Thursday, June 20th. They set an “outperform” rating and a $7.00 price objective for the company. ValuEngine lowered shares of Meet Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. BidaskClub downgraded shares of Meet Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 5th. Finally, CIBC assumed coverage on shares of Meet Group in a research note on Friday, June 21st. They issued an “outperform” rating and a $7.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Meet Group has an average rating of “Hold” and a consensus price target of $6.71.

Shares of Meet Group stock traded up $0.15 during trading on Friday, reaching $3.58. The company’s stock had a trading volume of 1,149,500 shares, compared to its average volume of 1,351,857. The business has a 50 day moving average price of $3.50 and a 200-day moving average price of $4.31. Meet Group has a 12-month low of $3.05 and a 12-month high of $6.27. The company has a market capitalization of $275.29 million, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.10.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in Meet Group during the 2nd quarter valued at about $35,000. Meritage Portfolio Management acquired a new position in Meet Group in the second quarter worth about $38,000. Meeder Asset Management Inc. raised its position in Meet Group by 3,841.4% in the second quarter. Meeder Asset Management Inc. now owns 15,332 shares of the information services provider’s stock worth $54,000 after purchasing an additional 14,943 shares in the last quarter. Jane Street Group LLC bought a new position in Meet Group during the second quarter worth about $58,000. Finally, Schroder Investment Management Group bought a new position in Meet Group during the second quarter worth about $67,000. 69.07% of the stock is currently owned by hedge funds and other institutional investors.

Meet Group Company Profile

The Meet Group, Inc operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide. The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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