Match Group (NASDAQ:MTCH) Posts Earnings Results, Misses Expectations By $0.22 EPS

Match Group (NASDAQ:MTCH) issued its quarterly earnings results on Tuesday. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22), Zacks reports. Match Group had a net margin of 17.86% and a negative return on equity of 721.15%.

Match Group Trading Up 3.0 %

NASDAQ MTCH traded up $1.07 on Tuesday, hitting $36.47. 8,935,765 shares of the company’s stock were exchanged, compared to its average volume of 3,990,130. The stock has a 50-day moving average of $32.85 and a 200-day moving average of $34.66. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.10 and a beta of 1.45. Match Group has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Monday, January 6th were given a dividend of $0.19 per share. The ex-dividend date was Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.08%. Match Group’s dividend payout ratio is 33.93%.

Analyst Ratings Changes

MTCH has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Susquehanna dropped their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Fourteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Match Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.