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Market Update (NASDAQ:YHOO): Yahoo! (YHOO) Stock Drops, Bids For Core Business May Fall Below Expectations

[at TheStreet] – Yahoo! (YHOO) shares are tumbling on Friday as bids to acquire the struggling search engine giant’s core business are projected to come in lower than previous estimates. Read more on this. Yahoo! Inc. (YHOO) , valued at $34.44B, began trading this morning at $36.04. During the trading session, YHOO traded between $35.89 to $36.40 with a trailing 52-week range being $26.15 to $44.00. Priced at 74.04x this year’s forecasted earnings, YHOO shares are relatively expensive compared to the industry’s 2.92x forward p/e ratio. According to a consensus of 33 analysts, the earnings estimate of $0.10 per share would be $0.06 worse than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $0.50, which would be a $0.09 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.08 Billion. If realized, that would be a 12.90% decrease over the year-ago quarter. In terms of ratings, Citigroup downgraded YHOO from Buy to Neutral (Mar 22, 2016). Previously, Citigroup upgraded YHOO from Neutral to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $41.09, which is 14.01% above where the stock opened this morning. See more in (NASDAQ:YHOO) Similar Articles: Market Update: Yahoo! Inc. (NASDAQ:YHOO) – Here’s a Reason Yahoo! (YHOO) Stock is Increasing Today Market Update (NASDAQ:YHOO): Yahoo Sets April 11 Deadline for Takeout Bids (YHOO) Stock Update (NASDAQ:YHOO): Will Yahoo! (YHOO) Stock Be Helped by Potential Sale of ‘Non-Core Assets’?
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