YY Inc. (NASDAQ:YY) hit a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $108.05 and last traded at $89.23, with a volume of 1850800 shares trading hands. The stock had previously closed at $90.60.
The information services provider reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.18. The business had revenue of $464.78 million during the quarter, compared to analyst estimates of $425.44 million. YY had a net margin of 22.08% and a return on equity of 39.07%. The business’s revenue was up 53.4% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS.
Several research analysts have weighed in on the stock. BidaskClub raised shares of YY from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 20th. ValuEngine lowered shares of YY from a “strong-buy” rating to a “buy” rating in a report on Monday, August 7th. Citigroup Inc. raised their price objective on shares of YY to $100.00 and gave the stock a “buy” rating in a report on Friday, August 11th. reissued a “buy” rating and set a $89.00 price objective (up from $65.00) on shares of YY in a report on Friday, August 11th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $100.00 price objective (up from $69.00) on shares of YY in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. YY presently has a consensus rating of “Buy” and an average target price of $76.88.
The company has a market capitalization of $5,078.58, a price-to-earnings ratio of 17.09, a P/E/G ratio of 0.98 and a beta of 1.17.
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YY Company Profile
YY Inc (YY) is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company’s segments include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning.
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