Amazon.com (AMZN) to Release Quarterly Earnings on Thursday

by · The Cerbat Gem

Amazon.com (NASDAQ:AMZN – Get Free Report) is scheduled to be releasing its earnings data after the market closes on Thursday, October 31st. Analysts expect Amazon.com to post earnings of $1.14 per share for the quarter. Amazon.com has set its Q3 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. On average, analysts expect Amazon.com to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $190.83 on Wednesday. The stock has a market capitalization of $1.99 trillion, a P/E ratio of 53.45, a P/E/G ratio of 1.38 and a beta of 1.14. Amazon.com has a 52-week low of $128.56 and a 52-week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $183.94 and its two-hundred day moving average price is $183.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen raised their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Pivotal Research initiated coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Stifel Nicolaus lowered their price objective on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their target price on Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Evercore ISI restated an “outperform” rating and issued a $240.00 price target on shares of Amazon.com in a research report on Friday, October 11th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $236.76.

Read Our Latest Stock Analysis on Amazon.com

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock valued at $9,877,423 in the last ninety days. Company insiders own 10.80% of the company’s stock.

About Amazon.com

(Get Free Report)

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.

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