Analysts Expect Meet Group Inc (MEET) Will Announce Quarterly Sales of $48.50 Million

Wall Street analysts predict that Meet Group Inc (NASDAQ:MEET) will announce $48.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Meet Group’s earnings. The highest sales estimate is $48.80 million and the lowest is $48.20 million. Meet Group reported sales of $40.12 million in the same quarter last year, which would suggest a positive year over year growth rate of 20.9%. The firm is expected to announce its next earnings report on Wednesday, March 6th.

On average, analysts expect that Meet Group will report full-year sales of $174.60 million for the current fiscal year, with estimates ranging from $174.30 million to $174.90 million. For the next year, analysts forecast that the business will post sales of $191.95 million, with estimates ranging from $184.40 million to $199.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Meet Group.

Meet Group (NASDAQ:MEET) last released its quarterly earnings data on Wednesday, November 7th. The information services provider reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The business had revenue of $45.72 million for the quarter, compared to the consensus estimate of $43.85 million. Meet Group had a negative net margin of 42.63% and a positive return on equity of 10.15%.

A number of equities research analysts have recently issued reports on MEET shares. BidaskClub raised shares of Meet Group from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Canaccord Genuity set a $6.00 price target on shares of Meet Group and gave the stock a “buy” rating in a report on Tuesday, August 21st. ValuEngine downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. Finally, TheStreet raised shares of Meet Group from a “d+” rating to a “c-” rating in a report on Monday, August 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Meet Group currently has a consensus rating of “Hold” and a consensus price target of $4.17.

In related news, major shareholder Luxor Capital Group, Lp bought 247,567 shares of the stock in a transaction that occurred on Friday, October 5th. The shares were acquired at an average cost of $5.27 per share, with a total value of $1,304,678.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Spencer Garrett Rhodes bought 11,985 shares of the stock in a transaction that occurred on Monday, November 12th. The stock was bought at an average cost of $3.77 per share, for a total transaction of $45,183.45. Following the completion of the purchase, the director now directly owns 80,466 shares of the company’s stock, valued at $303,356.82. The disclosure for this purchase can be found here. Insiders purchased 1,431,533 shares of company stock worth $6,440,183 over the last ninety days. 6.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Meet Group by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after purchasing an additional 37,677 shares in the last quarter. Quantum Capital Management bought a new position in Meet Group during the second quarter valued at approximately $313,000. Wells Fargo & Company MN grew its position in Meet Group by 40.2% during the first quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after acquiring an additional 44,624 shares during the last quarter. BlackRock Inc. grew its position in Meet Group by 17.6% during the second quarter. BlackRock Inc. now owns 4,823,976 shares of the information services provider’s stock valued at $21,611,000 after acquiring an additional 721,187 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY bought a new position in Meet Group during the second quarter valued at approximately $109,000. 51.42% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ MEET traded down $0.12 during trading on Thursday, hitting $3.76. 881,557 shares of the company’s stock traded hands, compared to its average volume of 987,638. The company has a market cap of $278.02 million, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.53. Meet Group has a 12-month low of $1.84 and a 12-month high of $5.63. The company has a quick ratio of 1.15, a current ratio of 1.14 and a debt-to-equity ratio of 0.13.

Meet Group Company Profile

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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