JOYY (NASDAQ:JOYY) Announces Quarterly Earnings Results

JOYY (NASDAQ:JOYY) announced its quarterly earnings data 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 during the quarter.

JOYY Price Performance

JOYY stock opened at $54.42 on Tuesday. The firm has a 50 day simple moving average of $58.96 and a 200-day simple moving average of $62.02. JOYY has a 1-year low of $42.00 and a 1-year high of $70.96. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 1.39 and a beta of 0.42.

JOYY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Wednesday, April 22nd were paid a $1.38 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $5.52 annualized dividend and a dividend yield of 10.1%. JOYY’s dividend payout ratio is 14.09%.

Institutional Trading of JOYY

Several hedge funds have recently made changes to their positions in JOYY. Stonehill Capital Management LLC purchased a new position in shares of JOYY during the 3rd quarter worth approximately $80,885,000. Public Employees Retirement System of Ohio purchased a new position in shares of JOYY during the 3rd quarter worth approximately $9,204,000. SG Americas Securities LLC boosted its position in shares of JOYY by 1,336.8% during the 4th quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock worth $4,858,000 after purchasing an additional 69,794 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of JOYY during the 3rd quarter worth approximately $715,000. Finally, New York State Common Retirement Fund boosted its position in shares of JOYY by 8.8% during the 4th quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock worth $8,973,000 after purchasing an additional 11,200 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

JOYY Company Profile

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.