$17.32 Billion in Sales Expected for Facebook, Inc. (NASDAQ:FB) This Quarter

Wall Street analysts forecast that Facebook, Inc. (NASDAQ:FB) will post $17.32 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Facebook’s earnings. The lowest sales estimate is $16.84 billion and the highest is $17.81 billion. Facebook posted sales of $13.73 billion during the same quarter last year, which suggests a positive year over year growth rate of 26.1%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, October 30th.

On average, analysts expect that Facebook will report full year sales of $70.26 billion for the current year, with estimates ranging from $69.37 billion to $71.31 billion. For the next fiscal year, analysts expect that the business will report sales of $85.53 billion, with estimates ranging from $83.62 billion to $88.35 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Facebook.

Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 24th. The social networking company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.09. The firm had revenue of $16.89 billion during the quarter, compared to the consensus estimate of $16.49 billion. Facebook had a return on equity of 20.09% and a net margin of 27.26%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.74 EPS.

Several brokerages recently weighed in on FB. Monness Crespi & Hardt upped their price objective on Facebook from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Oppenheimer upped their price objective on Facebook from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Susquehanna Bancshares upped their price objective on Facebook from $225.00 to $245.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Jefferies Financial Group upped their price objective on Facebook from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity upped their price objective on Facebook from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $223.11.

In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $200.81, for a total value of $11,044,550.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO David B. Fischer sold 5,501 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $196.84, for a total value of $1,082,816.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,035,838 shares of company stock worth $743,951,425. Corporate insiders own 14.53% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Facebook by 2.0% in the second quarter. Vanguard Group Inc. now owns 180,682,575 shares of the social networking company’s stock valued at $34,871,738,000 after purchasing an additional 3,465,756 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Facebook by 2.8% in the second quarter. BlackRock Inc. now owns 151,662,410 shares of the social networking company’s stock valued at $29,270,846,000 after purchasing an additional 4,114,043 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Facebook by 36.5% in the second quarter. Invesco Ltd. now owns 35,051,341 shares of the social networking company’s stock valued at $6,764,908,000 after purchasing an additional 9,368,684 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Facebook by 1.7% in the second quarter. Northern Trust Corp now owns 28,594,013 shares of the social networking company’s stock valued at $5,518,644,000 after purchasing an additional 470,411 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Facebook by 5,336.8% in the second quarter. Nuveen Asset Management LLC now owns 22,496,340 shares of the social networking company’s stock valued at $4,341,794,000 after purchasing an additional 22,082,561 shares in the last quarter. Institutional investors and hedge funds own 63.23% of the company’s stock.

NASDAQ:FB opened at $182.34 on Wednesday. The stock has a fifty day moving average price of $184.32 and a 200-day moving average price of $186.20. The company has a market cap of $527.11 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.47 and a current ratio of 4.47. Facebook has a fifty-two week low of $123.02 and a fifty-two week high of $208.66.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Earnings History and Estimates for Facebook (NASDAQ:FB)

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