VNET Group (VNET) Set to Announce Quarterly Earnings on Wednesday

VNET Group (NASDAQ:VNET) is scheduled to post its quarterly earnings results after the market closes on Wednesday, November 20th. Analysts expect VNET Group to post earnings of $0.03 per share for the quarter. VNET Group has set its FY 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

VNET Group (NASDAQ:VNET) last posted its earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. The business had revenue of $274.35 million during the quarter, compared to analyst estimates of $266.56 million. On average, analysts expect VNET Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

VNET Group Stock Up 1.2 %

VNET stock opened at $3.45 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.87. VNET Group has a 1-year low of $1.39 and a 1-year high of $4.50. The stock has a market capitalization of $888.03 million, a P/E ratio of -1.47, a P/E/G ratio of 7.15 and a beta of -0.27. The business has a fifty day moving average price of $3.53 and a 200-day moving average price of $2.60.

Analyst Ratings Changes

VNET has been the topic of several research analyst reports. Citigroup started coverage on shares of VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 target price on the stock. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research report on Wednesday, October 9th. Hsbc Global Res raised VNET Group to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, StockNews.com upgraded VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $3.97.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.