Facebook, Inc. (FB) to Post FY2018 Earnings of $7.33 Per Share, SunTrust Banks Forecasts

Facebook, Inc. (NASDAQ:FB) – Equities research analysts at SunTrust Banks increased their FY2018 EPS estimates for Facebook in a note issued to investors on Wednesday, October 31st. SunTrust Banks analyst Y. Squali now anticipates that the social networking company will post earnings per share of $7.33 for the year, up from their previous estimate of $6.90. SunTrust Banks currently has a “Buy” rating and a $200.00 price target on the stock. SunTrust Banks also issued estimates for Facebook’s Q4 2018 earnings at $2.13 EPS, FY2019 earnings at $7.18 EPS, FY2021 earnings at $8.86 EPS and FY2022 earnings at $10.27 EPS.

Facebook (NASDAQ:FB) last released its earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion for the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 28.18%. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share.

Several other research analysts also recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Facebook from $175.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James dropped their target price on shares of Facebook from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday. Rosenblatt Securities set a $206.00 target price on shares of Facebook and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets dropped their target price on shares of Facebook from $190.00 to $175.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus decreased their price target on shares of Facebook from $202.00 to $186.00 and set a “buy” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus target price of $195.65.

Facebook stock opened at $151.79 on Thursday. The company has a market capitalization of $424.77 billion, a PE ratio of 24.64, a PEG ratio of 0.93 and a beta of 0.42. Facebook has a fifty-two week low of $139.03 and a fifty-two week high of $218.62.

In other news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $155.00, for a total value of $116,250.00. Following the completion of the sale, the vice president now directly owns 90,894 shares in the company, valued at $14,088,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David B. Fischer sold 2,648 shares of the business’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $148.39, for a total transaction of $392,936.72. The disclosure for this sale can be found here. Insiders sold 3,626,282 shares of company stock valued at $641,081,083 over the last quarter. Corporate insiders own 17.23% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. US Bancorp DE increased its position in Facebook by 6.6% during the third quarter. US Bancorp DE now owns 889,312 shares of the social networking company’s stock worth $146,258,000 after acquiring an additional 55,136 shares during the period. Nippon Life Global Investors Americas Inc. increased its position in Facebook by 26.0% during the third quarter. Nippon Life Global Investors Americas Inc. now owns 131,700 shares of the social networking company’s stock worth $21,660,000 after acquiring an additional 27,190 shares during the period. Private Capital Group LLC increased its position in Facebook by 10.4% during the third quarter. Private Capital Group LLC now owns 7,731 shares of the social networking company’s stock worth $1,271,000 after acquiring an additional 731 shares during the period. Wealthstreet Investment Advisors LLC increased its position in Facebook by 8.1% during the third quarter. Wealthstreet Investment Advisors LLC now owns 79,547 shares of the social networking company’s stock worth $13,082,000 after acquiring an additional 5,945 shares during the period. Finally, Cypress Capital Management LLC WY increased its position in Facebook by 30.7% during the third quarter. Cypress Capital Management LLC WY now owns 1,810 shares of the social networking company’s stock worth $298,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 60.30% 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. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Earnings History and Estimates for Facebook (NASDAQ:FB)

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