Brokerages Anticipate MakeMyTrip Limited (MMYT) Will Announce Earnings of -$0.26 Per Share

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Brokerages expect MakeMyTrip Limited (NASDAQ:MMYT) to post ($0.26) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for MakeMyTrip’s earnings. MakeMyTrip posted earnings per share of ($0.45) during the same quarter last year, which indicates a positive year over year growth rate of 42.2%. The company is expected to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that MakeMyTrip will report full year earnings of ($0.80) per share for the current year. For the next fiscal year, analysts anticipate that the company will report earnings of $0.51 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover MakeMyTrip.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings results on Tuesday, August 14th. The technology company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.20). MakeMyTrip had a negative return on equity of 11.37% and a negative net margin of 32.44%. The company had revenue of $170.09 million during the quarter, compared to the consensus estimate of $164.50 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The business’s revenue was up 20.5% compared to the same quarter last year.

A number of brokerages have recently commented on MMYT. BidaskClub lowered shares of MakeMyTrip from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 22nd. Bank of America lifted their price target on shares of MakeMyTrip from $39.50 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Zacks Investment Research upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. ValuEngine lowered shares of MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Jefferies Financial Group upgraded shares of MakeMyTrip from a “hold” rating to a “buy” rating and set a $19.80 price target for the company in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $36.36.

Shares of MMYT stock traded down $0.89 during trading hours on Friday, reaching $24.76. The company had a trading volume of 288,079 shares, compared to its average volume of 348,501. MakeMyTrip has a one year low of $22.40 and a one year high of $41.70. The firm has a market capitalization of $2.80 billion, a PE ratio of -11.36 and a beta of -0.16.

Several institutional investors and hedge funds have recently bought and sold shares of MMYT. Barclays PLC boosted its holdings in shares of MakeMyTrip by 824.4% in the first quarter. Barclays PLC now owns 2,921 shares of the technology company’s stock worth $101,000 after buying an additional 2,605 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of MakeMyTrip by 123.6% in the first quarter. Citigroup Inc. now owns 3,454 shares of the technology company’s stock worth $120,000 after buying an additional 1,909 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of MakeMyTrip in the second quarter worth approximately $200,000. Fox Run Management L.L.C. purchased a new position in shares of MakeMyTrip in the third quarter worth approximately $235,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of MakeMyTrip in the first quarter worth approximately $241,000. 43.00% of the stock is currently owned by institutional investors.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

Further Reading: Earnings Reports

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