Zacks: Analysts Expect MakeMyTrip Limited (MMYT) Will Post Earnings of -$0.31 Per Share

Analysts expect MakeMyTrip Limited (NASDAQ:MMYT) to post earnings of ($0.31) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for MakeMyTrip’s earnings. MakeMyTrip posted earnings of ($0.45) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 31.1%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that MakeMyTrip will report full-year earnings of ($0.81) per share for the current financial year. For the next fiscal year, analysts forecast that the business will post earnings of $0.51 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for MakeMyTrip.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, August 14th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.20). MakeMyTrip had a negative return on equity of 11.27% and a negative net margin of 32.59%. The firm had revenue of $170.09 million for the quarter, compared to analysts’ expectations of $164.50 million. During the same period last year, the company posted ($0.53) earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis.

MMYT has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Zacks Investment Research downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Jefferies Financial Group raised shares of MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 price objective on the stock in a report on Wednesday, August 15th. ValuEngine downgraded shares of MakeMyTrip from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Bank of America increased their price objective on shares of MakeMyTrip from $39.50 to $40.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.16.

NASDAQ MMYT traded down $1.24 during mid-day trading on Friday, reaching $23.51. 252,433 shares of the stock were exchanged, compared to its average volume of 513,746. MakeMyTrip has a 1 year low of $20.82 and a 1 year high of $41.70. The company has a market capitalization of $2.53 billion, a PE ratio of -10.78 and a beta of 0.04.

A number of institutional investors and hedge funds have recently bought and sold shares of MMYT. Barclays PLC lifted its holdings in MakeMyTrip by 824.4% during the first quarter. Barclays PLC now owns 2,921 shares of the technology company’s stock valued at $101,000 after purchasing an additional 2,605 shares in the last quarter. Acadian Asset Management LLC purchased a new position in MakeMyTrip during the third quarter valued at $108,000. Harbour Capital Advisors LLC purchased a new position in MakeMyTrip during the second quarter valued at $200,000. Fox Run Management L.L.C. purchased a new position in MakeMyTrip during the third quarter valued at $235,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in MakeMyTrip by 30.7% during the second quarter. Cubist Systematic Strategies LLC now owns 9,082 shares of the technology company’s stock valued at $328,000 after purchasing an additional 2,133 shares in the last quarter. 44.10% of the stock is currently owned by institutional investors and hedge funds.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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