Match Group (MTCH) Expected to Announce Quarterly Earnings on Tuesday

Match Group (NASDAQ:MTCH) is projected to announce its earnings results after the market closes on Tuesday, February 4th. Analysts expect the company to announce earnings of $0.84 per share and revenue of $857.93 million for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Match Group Trading Up 1.4 %

NASDAQ:MTCH opened at $35.70 on Friday. The firm has a 50-day moving average price of $32.80 and a two-hundred day moving average price of $34.66. The company has a market capitalization of $8.96 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.08 and a beta of 1.45. Match Group has a twelve month low of $27.66 and a twelve month high of $39.91.

Match Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Monday, January 6th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, January 6th. Match Group’s payout ratio is currently 33.93%.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Barclays cut their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Loop Capital decreased their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Finally, Stifel Nicolaus decreased their price target on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.72.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.