Meet Group Inc (MEET) Expected to Post Earnings of $0.09 Per Share

Wall Street analysts forecast that Meet Group Inc (NASDAQ:MEET) will post earnings per share of $0.09 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Meet Group’s earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.09. Meet Group reported earnings of $0.11 per share during the same quarter last year, which indicates a negative year over year growth rate of 18.2%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 14th.

On average, analysts expect that Meet Group will report full-year earnings of $0.30 per share for the current financial year, with EPS estimates ranging from $0.29 to $0.31. For the next fiscal year, analysts anticipate that the company will report earnings of $0.37 per share, with EPS estimates ranging from $0.30 to $0.43. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Meet Group.

Meet Group (NASDAQ:MEET) last posted its earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $42.80 million during the quarter, compared to analysts’ expectations of $38.25 million. Meet Group had a negative net margin of 45.79% and a positive return on equity of 10.24%.

MEET has been the subject of several research analyst reports. Canaccord Genuity raised shares of Meet Group from a “hold” rating to a “buy” rating and raised their target price for the company from $3.00 to $6.00 in a research note on Thursday, July 19th. Zacks Investment Research raised shares of Meet Group from a “sell” rating to a “hold” rating and set a $3.25 target price for the company in a research note on Wednesday, May 9th. BidaskClub raised shares of Meet Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, ValuEngine raised shares of Meet Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Meet Group has a consensus rating of “Buy” and an average price target of $4.63.

In related news, CEO Geoffrey Cook sold 250,000 shares of the firm’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $4.17, for a total transaction of $1,042,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,306,562 shares of the company’s stock, valued at $5,448,363.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason Whitt sold 18,500 shares of the firm’s stock in a transaction on Friday, July 13th. The shares were sold at an average price of $4.02, for a total transaction of $74,370.00. Following the transaction, the director now directly owns 62,382 shares of the company’s stock, valued at $250,775.64. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Several large investors have recently modified their holdings of MEET. Metropolitan Life Insurance Co. NY purchased a new position in shares of Meet Group in the 2nd quarter worth $109,000. JPMorgan Chase & Co. grew its stake in shares of Meet Group by 167.5% in the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock worth $126,000 after buying an additional 37,677 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Meet Group in the 2nd quarter worth $155,000. Parallel Advisors LLC purchased a new position in shares of Meet Group in the 2nd quarter worth $224,000. Finally, Symons Capital Management Inc. grew its stake in shares of Meet Group by 55.7% in the 1st quarter. Symons Capital Management Inc. now owns 132,579 shares of the information services provider’s stock worth $277,000 after buying an additional 47,421 shares in the last quarter. 42.90% of the stock is owned by institutional investors and hedge funds.

MEET traded down $0.08 during trading on Friday, hitting $4.02. 801,300 shares of the company traded hands, compared to its average volume of 1,111,577. The stock has a market capitalization of $304.28 million, a price-to-earnings ratio of 12.97, a PEG ratio of 1.09 and a beta of 1.48. Meet Group has a 1 year low of $1.84 and a 1 year high of $4.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15.

About Meet Group

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company's applications include MeetMe, LOVOO, Skout, and Tagged that keep mobile daily active users entertained and engaged, and originate untold numbers of casual chats, friendships, dates, and marriages.

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