JOYY (NASDAQ:JOYY) Releases Earnings Results, Beats Expectations By $0.17 EPS

JOYY (NASDAQ:JOYY - Get Free Report) announced its earnings results on Wednesday. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.17, RTT News reports. JOYY had a net margin of 82.39% and a return on equity of 4.81%.JOYY Stock Up 1.0%Shares of JOYY stock traded up $0.59 during mid-day trading on Wednesday, hitting $59.94. 405,365 shares of the stock were exchanged, compared to its average volume of 444,060. JOYY has a twelve month low of $33.83 and a twelve month high of $64.76. The stock has a 50-day moving average of $59.48. The company has a market cap of $3.12 billion, a PE ratio of 1.86 and a beta of 0.29. JOYY Dividend AnnouncementThe business also recently disclosed a dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 22nd were given a $0.95 dividend. The ex-dividend date was Monday, September 22nd. JOYY's dividend payout ratio is currently 11.73%. Hedge Funds Weigh In On JOYYHedge funds and other institutional investors have recently modified their holdings of the company. Sittner & Nelson LLC purchased a new position in JOYY in the 3rd quarter worth approximately $29,000. Ameriprise Financial Inc. acquired a new stake in shares of JOYY in the 3rd quarter valued at about $442,000. Public Employees Retirement System of Ohio bought a new position in JOYY during the 3rd quarter worth approximately $9,204,000. Finally, Stonehill Capital Management LLC acquired a new position in JOYY in the third quarter worth $80,885,000. 36.83% of the stock is owned by institutional investors and hedge funds. Wall Street Analysts Forecast GrowthSeveral equities research analysts have issued reports on JOYY shares. Zacks Research raised JOYY to a "hold" rating in a research note on Wednesday, October 15th. Weiss Ratings raised JOYY from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Saturday, October 25th. Finally, Citigroup reaffirmed a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold".View Our Latest Analysis on JOYYJOYY Company Profile (Get Free Report)JOYY Inc, through its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as live talk with other users, make video calls, and watch trend videos; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls, text messages, and photo and video sharing.See AlsoFive stocks we like better than JOYYBest of the list of Dividend Aristocrats: Build wealth with the aristocrat indexonsemi Places a $6 Billion Bet on Its Own StockMost active stocks: Dollar volume vs share volumeHIMS Has Been a Roller Coaster Ride. Should Investors Hop On?Options Trading - Understanding Strike PriceEnd the Year Strong With These 3 Comeback ChampionsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in JOYY Right Now?Before you consider JOYY, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and JOYY wasn't on the list.While JOYY currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here