ValuEngine cut shares of JOYY (NASDAQ:YY) from a hold rating to a sell rating in a report issued on Wednesday morning, ValuEngine reports.
Other equities analysts also recently issued reports about the company. Benchmark increased their target price on JOYY from $115.00 to $165.00 in a research report on Tuesday, November 17th. TheStreet upgraded JOYY from a c+ rating to a b rating in a research note on Monday, October 5th. Zacks Investment Research lowered JOYY from a hold rating to a sell rating in a research report on Thursday, November 26th. Finally, BidaskClub upgraded JOYY from a hold rating to a buy rating in a research report on Monday, November 2nd. Two investment analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. JOYY currently has an average rating of Buy and an average price target of $103.78.
Shares of YY opened at $82.15 on Wednesday. The firm has a market cap of $6.64 billion, a P/E ratio of 6.23, a price-to-earnings-growth ratio of 18.05 and a beta of 1.19. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $90.15 and its 200 day moving average price is $83.96. JOYY has a 12-month low of $41.33 and a 12-month high of $108.21.
JOYY (NASDAQ:YY) last issued its quarterly earnings data on Sunday, November 15th. The information services provider reported $8.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $7.87. JOYY had a return on equity of 5.46% and a net margin of 27.75%. The company had revenue of $925.88 million during the quarter, compared to analysts’ expectations of $876.28 million. Equities research analysts forecast that JOYY will post 3.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Friday, December 11th will be issued a $0.51 dividend. This is an increase from JOYY’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, December 10th. This represents a $2.04 annualized dividend and a dividend yield of 2.48%. JOYY’s dividend payout ratio (DPR) is 52.19%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lombard Odier Asset Management Switzerland SA bought a new stake in shares of JOYY in the 3rd quarter worth approximately $1,767,000. Perpetual Ltd bought a new stake in JOYY during the 3rd quarter valued at $4,420,000. Allianz Asset Management GmbH raised its stake in JOYY by 12.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 146,815 shares of the information services provider’s stock valued at $11,843,000 after acquiring an additional 16,658 shares in the last quarter. California Public Employees Retirement System raised its stake in JOYY by 1.7% during the 3rd quarter. California Public Employees Retirement System now owns 127,642 shares of the information services provider’s stock valued at $10,297,000 after acquiring an additional 2,192 shares in the last quarter. Finally, Comerica Bank raised its stake in JOYY by 4.1% during the 2nd quarter. Comerica Bank now owns 4,163 shares of the information services provider’s stock valued at $333,000 after acquiring an additional 165 shares in the last quarter. 53.90% of the stock is currently owned by institutional investors and hedge funds.
JOYY Company Profile
JOYY Inc, through its subsidiaries, operates a social media platform in the People’s Republic of China and internationally. The company operates live streaming platforms, including YY Live, an interactive and comprehensive live streaming social media platform offering music and dance shows, talk shows, outdoor activities, and sports and anime; Bigo Live, which enables users to live stream their specific moments and talk live with each other; and Huya, a game live streaming platform.
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