Sea Ltd (NYSE:SE)’s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $37.86, but opened at $36.76. SEA shares last traded at $35.88, with a volume of 6,089,998 shares traded.
The Internet company based in Singapore reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.23. SEA had a negative return on equity of 158.33% and a negative net margin of 114.88%. The company had revenue of $763.30 million during the quarter, compared to analyst estimates of $700.71 million. During the same period in the previous year, the company earned ($2.03) earnings per share. The company’s quarterly revenue was up 214.4% compared to the same quarter last year.
A number of research analysts have recently commented on SE shares. Citigroup set a $38.00 price target on SEA and gave the stock a “buy” rating in a report on Wednesday, August 21st. Credit Suisse Group set a $44.00 price target on SEA and gave the stock a “buy” rating in a report on Wednesday, August 21st. ValuEngine lowered SEA from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Piper Jaffray Companies upped their price target on SEA from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Goldman Sachs Group upgraded SEA from a “neutral” rating to a “buy” rating in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.50.
The firm has a market capitalization of $10.37 billion, a P/E ratio of -11.89 and a beta of 1.32. The company has a quick ratio of 1.87, a current ratio of 1.89 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $29.78 and a 200-day moving average price of $31.15.
About SEA (NYSE:SE)
Sea Limited engages in the digital entertainment, e-commerce, and digital financial service businesses in Taiwan, Thailand, Vietnam, Indonesia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, and eSports operations; and access to other entertainment content, such as live streaming of online gameplay and social features.
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