VNET Group (VNET) to Release Earnings on Wednesday

VNET Group (NASDAQ:VNET) will be releasing its earnings data after the market closes on Wednesday, November 20th. Analysts expect VNET Group to post earnings of $0.03 per share for the quarter. VNET Group has set its FY 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $274.35 million for the quarter, compared to analysts’ expectations of $266.56 million. VNET Group had a negative return on equity of 11.44% and a negative net margin of 34.62%. On average, analysts expect VNET Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

VNET Group Stock Performance

NASDAQ VNET opened at $3.45 on Monday. The business has a 50-day moving average price of $3.53 and a 200-day moving average price of $2.60. The firm has a market cap of $888.03 million, a price-to-earnings ratio of -1.47, a price-to-earnings-growth ratio of 7.15 and a beta of -0.27. VNET Group has a twelve month low of $1.39 and a twelve month high of $4.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VNET shares. Citigroup initiated coverage on shares of VNET Group in a report on Wednesday, September 4th. They set a “buy” rating and a $4.00 price objective for the company. StockNews.com raised shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Hsbc Global Res upgraded shares of VNET Group to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $3.97.

About VNET Group

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.