Zacks: Brokerages Expect Zynga Inc (NASDAQ:ZNGA) to Announce $0.05 EPS

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Equities analysts expect Zynga Inc (NASDAQ:ZNGA) to announce earnings per share (EPS) of $0.05 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Zynga’s earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.07. Zynga reported earnings of $0.02 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 150%. The firm is scheduled to report its next earnings results on Wednesday, February 5th.

On average, analysts expect that Zynga will report full year earnings of $0.25 per share for the current year, with EPS estimates ranging from $0.22 to $0.31. For the next financial year, analysts anticipate that the firm will post earnings of $0.27 per share, with EPS estimates ranging from $0.21 to $0.29. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Zynga.

Zynga (NASDAQ:ZNGA) last released its earnings results on Wednesday, October 30th. The company reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. Zynga had a negative return on equity of 11.86% and a net margin of 3.94%. The business had revenue of $345.29 million for the quarter, compared to analysts’ expectations of $330.56 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The firm’s revenue was up 48.0% on a year-over-year basis.

ZNGA has been the subject of several research reports. Robert W. Baird set a $8.00 price target on shares of Zynga and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays set a $6.00 price target on shares of Zynga and gave the stock a “hold” rating in a research note on Monday, October 21st. Zacks Investment Research downgraded shares of Zynga from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price objective on shares of Zynga in a research note on Wednesday, September 18th. Finally, BidaskClub downgraded Zynga from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Zynga has an average rating of “Buy” and a consensus price target of $7.17.

Shares of ZNGA traded up $0.07 during trading hours on Wednesday, reaching $6.22. 11,091,479 shares of the stock traded hands, compared to its average volume of 16,969,127. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.36. The company has a market cap of $5.83 billion, a P/E ratio of 311.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.30. The company’s 50-day moving average price is $6.22 and its two-hundred day moving average price is $6.10. Zynga has a 52-week low of $3.48 and a 52-week high of $6.65.

In other news, insider Phuong Y. Phillips sold 12,090 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $6.29, for a total value of $76,046.10. Following the completion of the sale, the insider now directly owns 207,649 shares of the company’s stock, valued at $1,306,112.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James Gerard Griffin sold 1,052,899 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $6.29, for a total value of $6,622,734.71. Following the completion of the sale, the chief financial officer now directly owns 1,589,215 shares of the company’s stock, valued at $9,996,162.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,387,832 shares of company stock valued at $8,657,088. Insiders own 9.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Zynga by 1,172.6% during the second quarter. Renaissance Technologies LLC now owns 19,411,800 shares of the company’s stock worth $118,994,000 after purchasing an additional 17,886,400 shares during the period. Invesco Ltd. boosted its holdings in shares of Zynga by 592.1% during the 2nd quarter. Invesco Ltd. now owns 19,295,680 shares of the company’s stock valued at $118,283,000 after acquiring an additional 16,507,732 shares in the last quarter. Scout Investments Inc. acquired a new position in Zynga during the 3rd quarter worth about $40,665,000. Nuveen Asset Management LLC raised its position in shares of Zynga by 118.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 10,830,278 shares of the company’s stock worth $66,390,000 after acquiring an additional 5,878,684 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of Zynga by 943.2% in the 2nd quarter. Fiera Capital Corp now owns 6,204,942 shares of the company’s stock worth $38,036,000 after acquiring an additional 5,610,160 shares in the last quarter. 77.40% of the stock is owned by institutional investors.

About Zynga

Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.

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Earnings History and Estimates for Zynga (NASDAQ:ZNGA)

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