JOYY (YY) closed the most recent trading day at $40.11, moving -1.64% from the previous trading session. This move lagged the S&P 500's daily gain of 2.47%. Meanwhile, the Dow gained 1.76%, and the Nasdaq, a tech-heavy index, added 0.64%.
Heading into today, shares of the social media company had gained 6.2% over the past month, outpacing the Computer and Technology sector's loss of 4.57% and the S&P 500's loss of 2.59% in that time.
Investors will be hoping for strength from JOYY as it approaches its next earnings release, which is expected to be May 31, 2022. On that day, JOYY is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 226.67%. Our most recent consensus estimate is calling for quarterly revenue of $604.63 million, down 5.98% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.39 per share and revenue of $2.83 billion, which would represent changes of +81.06% and +8.24%, respectively, from the prior year.
Any recent changes to analyst estimates for JOYY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. JOYY is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note JOYY's current valuation metrics, including its Forward P/E ratio of 17.06. This represents a discount compared to its industry's average Forward P/E of 19.36.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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