Zynga Inc. (NASDAQ:ZNGA) Expected to Announce Earnings of $0.06 Per Share

Analysts expect Zynga Inc. (NASDAQ:ZNGA) to announce earnings of $0.06 per share for the current quarter, Zacks reports. Six analysts have issued estimates for Zynga’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.01. Zynga reported earnings per share of ($0.03) in the same quarter last year, which suggests a positive year over year growth rate of 300%. The company is expected to report its next earnings results on Wednesday, November 3rd.

On average, analysts expect that Zynga will report full-year earnings of $0.35 per share for the current year, with EPS estimates ranging from $0.24 to $0.43. For the next year, analysts forecast that the firm will post earnings of $0.41 per share, with EPS estimates ranging from $0.18 to $0.54. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Zynga.

Zynga (NASDAQ:ZNGA) last released its earnings results on Thursday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.03). Zynga had a positive return on equity of 0.71% and a negative net margin of 6.76%. The firm had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $713.58 million.

ZNGA has been the topic of a number of recent research reports. Barclays cut their target price on shares of Zynga from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, August 6th. BMO Capital Markets dropped their price target on shares of Zynga from $15.00 to $11.00 and set an “outperform” rating on the stock in a research note on Monday, August 9th. UBS Group dropped their price target on shares of Zynga from $14.50 to $13.50 and set a “buy” rating on the stock in a research note on Friday, August 6th. Zacks Investment Research upgraded shares of Zynga from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, July 9th. Finally, Wedbush reiterated a “buy” rating and issued a $15.00 price target on shares of Zynga in a research note on Friday, August 6th. One equities research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Zynga currently has a consensus rating of “Buy” and an average price target of $12.23.

Shares of ZNGA stock traded down $0.05 during trading hours on Friday, reaching $7.61. 181,706 shares of the stock were exchanged, compared to its average volume of 19,373,635. The business’s fifty day moving average is $9.02 and its two-hundred day moving average is $9.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 1.31. Zynga has a 12-month low of $7.55 and a 12-month high of $12.32. The firm has a market capitalization of $8.29 billion, a P/E ratio of -47.81 and a beta of 0.03.

In other Zynga news, insider Bernard Jin Kim sold 24,000 shares of the firm’s stock in a transaction on Friday, July 16th. The stock was sold at an average price of $10.31, for a total value of $247,440.00. Following the completion of the sale, the insider now owns 1,032,723 shares of the company’s stock, valued at $10,647,374.13. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Phuong Y. Phillips sold 2,480 shares of the firm’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $11.00, for a total value of $27,280.00. Following the completion of the sale, the insider now directly owns 293,539 shares of the company’s stock, valued at approximately $3,228,929. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,999,084 shares of company stock valued at $32,381,489. Corporate insiders own 8.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors increased its position in shares of Zynga by 168.9% in the second quarter. Arkadios Wealth Advisors now owns 2,506 shares of the company’s stock valued at $26,000 after buying an additional 1,574 shares in the last quarter. Cypress Point Wealth Management LLC purchased a new stake in Zynga during the 2nd quarter worth about $27,000. Berman Capital Advisors LLC grew its holdings in Zynga by 254.3% in the 1st quarter. Berman Capital Advisors LLC now owns 2,774 shares of the company’s stock valued at $28,000 after buying an additional 1,991 shares during the period. Credit Agricole S A lifted its stake in shares of Zynga by 200.0% in the 1st quarter. Credit Agricole S A now owns 3,000 shares of the company’s stock valued at $30,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new position in shares of Zynga in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 82.90% of the company’s stock.

About Zynga

Zynga, Inc provides social game services. It develops, markets and operates social games as live services played on mobile platforms such as Apple’s iOS operating system and Google’s Android operating system, and social networking sites such as Facebook. It offers Chess with Friends, Crazy Cake Swap, Draw Something, FarmVille, Gems with Friends, Ice Age: Arctic Blast, Looney Tunes Dash, Speed Guess Something, What’s The Phrase, Wizard of Oz Magic Match, Yummy Gummy, Free Slots, Black Diamond Casino, Hit It Rich, Zynga Poker and Willy Wonka Slots.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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