BuzzFeed (NASDAQ:BZFD) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

BuzzFeed (NASDAQ:BZFD) released its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13), Zacks reports. BuzzFeed had a negative net margin of 35.83% and a negative return on equity of 113.86%. The company had revenue of $26.03 million during the quarter, compared to analyst estimates of $47.64 million.

BuzzFeed Trading Down 39.2%

NASDAQ BZFD traded down $0.36 on Thursday, hitting $0.56. 2,644,190 shares of the stock were exchanged, compared to its average volume of 1,311,640. The company’s 50-day moving average price is $1.07 and its two-hundred day moving average price is $1.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 1.01. BuzzFeed has a 52-week low of $0.54 and a 52-week high of $2.21. The company has a market capitalization of $46.67 million, a price-to-earnings ratio of -0.36 and a beta of 4.02.

Wall Street Analyst Weigh In

Several analysts have issued reports on BZFD shares. Weiss Ratings restated a “sell (d-)” rating on shares of BuzzFeed in a report on Monday, August 17th. Wall Street Zen raised shares of BuzzFeed from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $1.00.

BuzzFeed Company Profile

BuzzFeed, Inc (NASDAQ: BZFD) is a digital media company that develops and distributes news, entertainment, lifestyle and cultural content. Its content is published through websites, social media platforms, video services, newsletters and other digital channels, and is supported by advertising, content licensing, affiliate commerce and other commercial partnerships.

The company’s portfolio includes the BuzzFeed brand, HuffPost and Tasty. BuzzFeed produces editorial articles, quizzes, videos and social content, while HuffPost focuses on news, opinion, lifestyle and culture.