VNET Group (VNET) Scheduled to Post Earnings on Wednesday

VNET Group (NASDAQ:VNET) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 29th. Analysts expect VNET Group to post earnings of $0.01 per share for the quarter. VNET Group has set its FY 2024 guidance at EPS.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, March 27th. The information technology services provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.50). VNET Group had a negative return on equity of 11.15% and a negative net margin of 35.68%. The company had revenue of $267.40 million for the quarter, compared to analyst estimates of $289.41 million. On average, analysts expect VNET Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

VNET Group Trading Down 2.9 %

Shares of NASDAQ:VNET opened at $1.86 on Thursday. The stock has a market cap of $477.48 million, a PE ratio of -0.75 and a beta of -0.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.56. VNET Group has a 12-month low of $1.39 and a 12-month high of $3.88. The business has a 50 day moving average of $1.78 and a 200-day moving average of $2.16.

Wall Street Analyst Weigh In

Several research firms have weighed in on VNET. Bank of America upgraded VNET Group from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $3.90 to $2.70 in a research report on Tuesday, March 19th. StockNews.com downgraded shares of VNET Group from a “hold” rating to a “sell” rating in a research note on Friday, April 5th.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.