MakeMyTrip Limited (MMYT) Expected to Announce Earnings of -$0.33 Per Share

Wall Street analysts forecast that MakeMyTrip Limited (NASDAQ:MMYT) will post earnings of ($0.33) per share for the current quarter, Zacks reports. Zero analysts have provided estimates for MakeMyTrip’s earnings. MakeMyTrip reported earnings of ($0.25) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 32%. The company is scheduled to issue its next earnings results on Wednesday, May 29th.

On average, analysts expect that MakeMyTrip will report full-year earnings of ($1.31) per share for the current fiscal year, with EPS estimates ranging from ($1.50) to ($1.11). For the next financial year, analysts forecast that the business will report earnings of ($0.76) per share, with EPS estimates ranging from ($1.00) to ($0.52). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow MakeMyTrip.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Thursday, January 24th. The technology company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.12. MakeMyTrip had a negative net margin of 32.53% and a negative return on equity of 10.90%. The firm had revenue of $179.90 million for the quarter, compared to analysts’ expectations of $165.51 million. During the same period in the previous year, the business earned ($0.30) earnings per share. MakeMyTrip’s revenue for the quarter was up 18.8% compared to the same quarter last year.

A number of equities analysts recently weighed in on MMYT shares. Zacks Investment Research cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. ValuEngine cut MakeMyTrip from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, BidaskClub cut MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $30.16.

A number of institutional investors and hedge funds have recently modified their holdings of MMYT. BlackRock Inc. grew its stake in MakeMyTrip by 20.5% during the 4th quarter. BlackRock Inc. now owns 4,977 shares of the technology company’s stock valued at $121,000 after acquiring an additional 847 shares in the last quarter. Jennison Associates LLC grew its stake in MakeMyTrip by 1.9% during the 4th quarter. Jennison Associates LLC now owns 72,079 shares of the technology company’s stock valued at $1,754,000 after acquiring an additional 1,366 shares in the last quarter. GAM Holding AG grew its stake in MakeMyTrip by 14.4% during the 3rd quarter. GAM Holding AG now owns 19,375 shares of the technology company’s stock valued at $532,000 after acquiring an additional 2,442 shares in the last quarter. Thornburg Investment Management Inc. purchased a new position in MakeMyTrip during the 4th quarter valued at about $112,000. Finally, Pendal Group Ltd grew its stake in MakeMyTrip by 4,612.7% during the 4th quarter. Pendal Group Ltd now owns 6,315 shares of the technology company’s stock valued at $154,000 after acquiring an additional 6,181 shares in the last quarter. 45.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MakeMyTrip stock opened at $27.60 on Wednesday. MakeMyTrip has a 52 week low of $19.66 and a 52 week high of $41.70.

MakeMyTrip Company Profile

MakeMyTrip Ltd. is an online travel company, which engages in the ownership and operation of online brands, including MakeMyTrip, goibibo, and redbus. It offers air ticketing, hotels and packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing.

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