Brokerages Expect The Meet Group Inc. (MEET) Will Announce Quarterly Sales of $34.15 Million

Wall Street brokerages expect The Meet Group Inc. (NASDAQ:MEET) to announce $34.15 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for The Meet Group’s earnings, with the lowest sales estimate coming in at $34.10 million and the highest estimate coming in at $34.20 million. The Meet Group reported sales of $20.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 70.2%. The firm is expected to issue its next earnings report on Monday, May 14th.

On average, analysts expect that The Meet Group will report full-year sales of $34.15 million for the current financial year, with estimates ranging from $140.90 million to $143.50 million. For the next financial year, analysts forecast that the company will post sales of $172.00 million per share. Zacks’ sales averages are an average based on a survey of research firms that cover The Meet Group.

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The Meet Group (NASDAQ:MEET) last posted its quarterly earnings data on Wednesday, March 7th. The information services provider reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The Meet Group had a positive return on equity of 9.41% and a negative net margin of 51.89%. The company had revenue of $40.20 million during the quarter, compared to analyst estimates of $38.18 million. During the same period in the previous year, the business earned $0.19 EPS. The Meet Group’s quarterly revenue was up 37.7% on a year-over-year basis.

Several equities research analysts have commented on the company. Zacks Investment Research lowered The Meet Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Canaccord Genuity reiterated a “hold” rating and set a $4.00 price objective on shares of The Meet Group in a research note on Tuesday, December 19th. ValuEngine lowered The Meet Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Roth Capital cut their price objective on The Meet Group from $4.00 to $3.25 and set a “buy” rating for the company in a research note on Thursday, March 8th. Finally, TheStreet lowered The Meet Group from a “c+” rating to a “d+” rating in a research note on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $5.05.

NASDAQ:MEET traded up $0.22 during trading hours on Wednesday, hitting $2.09. 2,444,418 shares of the stock were exchanged, compared to its average volume of 1,812,921. The Meet Group has a 52-week low of $1.85 and a 52-week high of $6.45. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22. The firm has a market cap of $150.57, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 4.18 and a beta of 1.09.

Institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its holdings in shares of The Meet Group by 56.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock worth $131,000 after purchasing an additional 9,383 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of The Meet Group during the 2nd quarter worth approximately $275,000. First Trust Advisors LP acquired a new position in shares of The Meet Group during the 3rd quarter worth approximately $206,000. Engineers Gate Manager LP acquired a new position in shares of The Meet Group during the 4th quarter worth approximately $229,000. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of The Meet Group by 46.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 104,250 shares of the information services provider’s stock worth $294,000 after purchasing an additional 32,870 shares during the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

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About The Meet Group

The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.

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