eBay (NASDAQ:EBAY) Announces Quarterly Earnings Results

eBay (NASDAQ:EBAY) issued its quarterly earnings data on Wednesday. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05, RTT News reports. eBay had a return on equity of 29.63% and a net margin of 25.97%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. The business’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. eBay updated its Q2 guidance to $1.10-1.15 EPS and its Q2 2024 guidance to 1.100-1.150 EPS.

eBay Stock Up 0.5 %

NASDAQ EBAY traded up $0.26 during trading hours on Friday, reaching $49.65. 6,896,617 shares of the company’s stock were exchanged, compared to its average volume of 6,450,188. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.31. The company’s 50-day moving average is $50.70 and its two-hundred day moving average is $44.77. eBay has a one year low of $37.17 and a one year high of $52.93.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, May 31st. eBay’s dividend payout ratio (DPR) is 21.51%.

Analyst Ratings Changes

Several research firms have recently weighed in on EBAY. TD Cowen raised their price objective on shares of eBay from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday. Susquehanna increased their target price on eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Mizuho lifted their price target on eBay from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a report on Friday. Finally, BMO Capital Markets boosted their target price on shares of eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $51.35.

Insider Transactions at eBay

In other news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the transaction, the senior vice president now directly owns 31,888 shares of the company’s stock, valued at $1,372,140.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by insiders.

eBay declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 27th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the e-commerce company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.