Brokerages Expect Zynga Inc. (ZNGA) Will Announce Earnings of $0.02 Per Share

Equities research analysts expect Zynga Inc. (NASDAQ:ZNGA) to report earnings of $0.02 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Zynga’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at $0.02. Zynga posted earnings of ($0.03) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 166.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Zynga will report full year earnings of $0.09 per share for the current fiscal year, with EPS estimates ranging from $0.08 to $0.11. For the next year, analysts forecast that the company will post earnings of $0.13 per share, with EPS estimates ranging from $0.11 to $0.16. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Zynga.

Zynga (NASDAQ:ZNGA) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. Zynga had a negative net margin of 10.50% and a negative return on equity of 3.83%. The business had revenue of $209.20 million for the quarter, compared to analyst estimates of $201.64 million. The business’s revenue was up 15.1% on a year-over-year basis.

Several research analysts have recently commented on the company. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Benchmark Co. reissued a “buy” rating and issued a $4.35 target price (up from $3.65) on shares of Zynga in a report on Wednesday, August 9th. Wedbush reissued an “outperform” rating and issued a $4.65 target price (up from $4.25) on shares of Zynga in a report on Wednesday, August 9th. Zacks Investment Research raised Zynga from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Thursday, August 10th. Finally, Cowen and Company reissued an “outperform” rating and issued a $4.50 target price on shares of Zynga in a report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Zynga presently has an average rating of “Buy” and an average target price of $4.01.

Zynga (NASDAQ ZNGA) traded down 0.27% on Friday, reaching $3.74. The company’s stock had a trading volume of 6,749,341 shares. Zynga has a 52 week low of $2.40 and a 52 week high of $3.86. The firm’s market capitalization is $3.24 billion. The stock’s 50 day moving average is $3.66 and its 200-day moving average is $3.27.

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In other Zynga news, Director Ellen F. Siminoff sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $3.64, for a total transaction of $43,680.00. Following the completion of the sale, the director now directly owns 141,057 shares in the company, valued at $513,447.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.43% of the company’s stock.

A number of large investors have recently modified their holdings of the company. World Asset Management Inc boosted its position in shares of Zynga by 0.4% in the second quarter. World Asset Management Inc now owns 27,842 shares of the company’s stock valued at $101,000 after buying an additional 98 shares in the last quarter. Princeton Portfolio Strategies Group LLC boosted its position in shares of Zynga by 43.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 35,900 shares of the company’s stock valued at $102,000 after buying an additional 10,900 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Zynga by 23.2% in the second quarter. The Manufacturers Life Insurance Company now owns 30,835 shares of the company’s stock valued at $112,000 after buying an additional 5,815 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Zynga during the first quarter valued at approximately $116,000. Finally, Prudential Financial Inc. boosted its position in shares of Zynga by 9.1% in the second quarter. Prudential Financial Inc. now owns 44,500 shares of the company’s stock valued at $162,000 after buying an additional 3,700 shares in the last quarter. Hedge funds and other institutional investors own 68.19% of the company’s stock.

Zynga Company Profile

Zynga Inc is a provider of social game services. The Company develops, markets and operates social games as live services played on mobile platforms, such as iPhone Operating System (iOS) operating system and Android operating system and social networking sites, such as Facebook. The Company has developed a range of social games, including games in its Slots, Words With Friends, Zynga Poker and FarmVille franchises.

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