Momo Inc to Issue Special Dividend of $0.62 (NASDAQ:MOMO)

Momo Inc (NASDAQ:MOMO) declared a special dividend on Wednesday, March 13th, Wall Street Journal reports. Shareholders of record on Friday, April 5th will be given a dividend of 0.62 per share by the information services provider on Tuesday, April 30th. The ex-dividend date is Thursday, April 4th.

Shares of NASDAQ MOMO traded down $0.37 during midday trading on Friday, reaching $35.67. 1,973,559 shares of the stock were exchanged, compared to its average volume of 3,495,022. The company has a market capitalization of $7.11 billion, a P/E ratio of 18.20, a P/E/G ratio of 0.63 and a beta of 2.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.69 and a quick ratio of 4.76. Momo has a twelve month low of $22.85 and a twelve month high of $54.24.

Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Tuesday, March 12th. The information services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.17. The business had revenue of $559.10 million during the quarter, compared to the consensus estimate of $536.45 million. Momo had a net margin of 21.19% and a return on equity of 30.62%. The business’s revenue was up 44.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. As a group, research analysts expect that Momo will post 2.38 EPS for the current year.

A number of analysts have recently issued reports on MOMO shares. Morgan Stanley upgraded shares of Momo from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.00 to $44.00 in a report on Wednesday, March 13th. BidaskClub upgraded shares of Momo from a “hold” rating to a “buy” rating in a report on Friday, February 15th. ValuEngine upgraded shares of Momo from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Nomura lifted their target price on shares of Momo from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.67.

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Momo Company Profile

Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.

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