JOYY (NASDAQ:JOYY) Issues Quarterly Earnings Results

JOYY (NASDAQ:JOYY) released its earnings results on Monday. The company reported $1.11 earnings per share (EPS) for the quarter, FiscalAI reports. JOYY had a net margin of 98.79% and a return on equity of 3.93%. The company had revenue of $555.70 million for the quarter.

JOYY Stock Performance

NASDAQ JOYY opened at $64.09 on Wednesday. The business has a 50 day simple moving average of $59.00 and a 200 day simple moving average of $62.05. JOYY has a 52-week low of $42.00 and a 52-week high of $70.96. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 1.64 and a beta of 0.42.

JOYY Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Wednesday, April 22nd were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Wednesday, April 22nd. JOYY’s dividend payout ratio is presently 14.09%.

Wall Street Analyst Weigh In

JOYY has been the subject of a number of research reports. UBS Group initiated coverage on JOYY in a research note on Wednesday, March 11th. They set a “buy” rating and a $80.00 target price for the company. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.67.

Hedge Funds Weigh In On JOYY

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of JOYY by 167.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of JOYY during the 1st quarter worth approximately $281,000. DGS Capital Management LLC grew its stake in shares of JOYY by 5.9% during the 1st quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock worth $221,000 after acquiring an additional 211 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of JOYY by 49.9% during the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company’s stock worth $6,567,000 after acquiring an additional 37,451 shares in the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of JOYY during the 4th quarter worth approximately $392,000. 36.83% of the stock is owned by institutional investors.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.