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JOYY (YY) Stock Sinks As Market Gains: What You Should Know
JOYY (YY - Free Report) closed the most recent trading day at $27.67, moving -0.54% from the previous trading session. This change lagged the S&P 500's 0.88% gain on the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 3.76%.
Prior to today's trading, shares of the social media company had lost 1.38% over the past month. This has lagged the Computer and Technology sector's gain of 6.17% and the S&P 500's loss of 0.38% in that time.
Investors will be hoping for strength from JOYY as it approaches its next earnings release, which is expected to be May 30, 2023. On that day, JOYY is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 17.86%. Meanwhile, our latest consensus estimate is calling for revenue of $562.76 million, down 9.78% from the prior-year quarter.
YY's full-year Zacks Consensus Estimates are calling for earnings of $1.32 per share and revenue of $2.36 billion. These results would represent year-over-year changes of -48.03% and -2.1%, respectively.
Investors might also notice recent changes to analyst estimates for JOYY. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. JOYY is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, JOYY is holding a Forward P/E ratio of 21.08. This valuation marks a discount compared to its industry's average Forward P/E of 22.5.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.