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eBay (NASDAQ:EBAY – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.03-$1.09 for the period, compared to the consensus estimate of $1.06. The company issued revenue guidance of $2.42 billion-$2.50 billion, compared to the consensus revenue estimate of $2.49 billion. eBay also updated its FY 2022 guidance to $4.07-$4.13 EPS.
eBay Trading Up 2.5 %
NASDAQ EBAY opened at $41.60 on Wednesday. The firm has a 50 day simple moving average of $39.99 and a 200-day simple moving average of $44.16. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.33 and a current ratio of 1.33. eBay has a one year low of $35.92 and a one year high of $76.58. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of -378.18, a PEG ratio of 1.65 and a beta of 1.25.
eBay Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Thursday, December 1st will be paid a $0.22 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. eBay’s dividend payout ratio is currently -800.00%.
Analyst Ratings Changes
A number of research analysts recently issued reports on EBAY shares. Credit Suisse Group decreased their price target on shares of eBay from $56.00 to $55.00 and set an outperform rating for the company in a research note on Thursday, November 3rd. Benchmark decreased their price target on shares of eBay from $66.00 to $62.00 and set a buy rating for the company in a research note on Thursday, November 3rd. StockNews.com initiated coverage on shares of eBay in a research report on Wednesday, October 12th. They set a hold rating for the company. Cowen reduced their price objective on shares of eBay from $52.00 to $45.00 in a research report on Wednesday, October 26th. Finally, Stifel Nicolaus reduced their price objective on shares of eBay from $62.00 to $60.00 in a research report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $52.50.
Insider Buying and Selling at eBay
In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the sale, the director now directly owns 155,248 shares in the company, valued at approximately $6,209,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On eBay
Several institutional investors have recently made changes to their positions in EBAY. Charles Schwab Investment Management Inc. boosted its position in shares of eBay by 4.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,264,763 shares of the e-commerce company’s stock worth $186,941,000 after buying an additional 130,287 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of eBay by 28.4% in the 1st quarter. Prudential Financial Inc. now owns 2,557,330 shares of the e-commerce company’s stock worth $146,433,000 after buying an additional 565,378 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of eBay by 307.3% in the 1st quarter. Renaissance Technologies LLC now owns 797,290 shares of the e-commerce company’s stock worth $45,653,000 after buying an additional 601,522 shares in the last quarter. Eaton Vance Management boosted its position in shares of eBay by 31.9% in the 1st quarter. Eaton Vance Management now owns 513,909 shares of the e-commerce company’s stock worth $29,428,000 after buying an additional 124,186 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of eBay by 34.7% in the 1st quarter. Sei Investments Co. now owns 461,862 shares of the e-commerce company’s stock worth $26,460,000 after buying an additional 118,952 shares in the last quarter. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
About eBay
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eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.
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