JOYY (NASDAQ:JOYY) Releases Earnings Results, Beats Expectations By $0.17 EPS
JOYY (NASDAQ:JOYY) reported quarterly earnings of $1.15 per share, beating analysts' estimates of $0.98. The company has a net margin of 82.39% and a return on equity of 4.81%. JOYY's stock rose 1.0% to $59.94. The company announced a $0.95 dividend paid on October 10th. Hedge funds and institutional investors own 36.83% of JOYY's stock. Analysts have given JOYY a consensus rating of 'Hold'.
JOYY (NASDAQ:JOYY - Get Free Report) announced its earnings results on Wednesday. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17, RTT News reports. JOYY had a net margin of 82.39% and a return on equity of 4.81%.
JOYY Stock Up 1.0%
Shares of JOYY stock traded up $0.59 during mid-day trading on Wednesday, hitting $59.94. 405,365 shares of the stock were exchanged, compared to its average volume of 444,060. JOYY has a twelve month low of $33.83 and a twelve month high of $64.76. The stock has a 50-day moving average of $59.48. The company has a market cap of $3.12 billion, a PE ratio of 1.86 and a beta of 0.29.
JOYY Dividend Announcement
The business also recently disclosed a dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 22nd were given a $0.95 dividend. The ex-dividend date was Monday, September 22nd. JOYY's dividend payout ratio is currently 11.73%.
Hedge Funds Weigh In On JOYY
Hedge funds and other institutional investors have recently modified their holdings of the company. Sittner & Nelson LLC purchased a new position in JOYY in the 3rd quarter worth approximately $29,000. Ameriprise Financial Inc. acquired a new stake in shares of JOYY in the 3rd quarter valued at about $442,000. Public Employees Retirement System of Ohio bought a new position in JOYY during the 3rd quarter worth approximately $9,204,000. Finally, Stonehill Capital Management LLC acquired a new position in JOYY in the third quarter worth $80,885,000. 36.83% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on JOYY shares. Zacks Research raised JOYY to a "hold" rating in a research note on Wednesday, October 15th. Weiss Ratings raised JOYY from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Saturday, October 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold".
View Our Latest Analysis on JOYY
JOYY Company Profile
(Get Free Report)JOYY Inc, through its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as live talk with other users, make video calls, and watch trend videos; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls, text messages, and photo and video sharing.
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