VNET Group (VNET) Set to Announce Earnings on Wednesday

VNET Group (NASDAQ:VNET) is set to announce its earnings results after the market closes on Wednesday, November 20th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. VNET Group has set its FY 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

VNET Group (NASDAQ:VNET) last posted its quarterly earnings data on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The company had revenue of $274.35 million during the quarter, compared to analyst estimates of $266.56 million. On average, analysts expect VNET Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

VNET Group Stock Performance

Shares of VNET stock opened at $3.49 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.47. VNET Group has a 1-year low of $1.39 and a 1-year high of $4.50. The stock’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $2.61. The company has a market capitalization of $898.33 million, a price-to-earnings ratio of -1.49, a P/E/G ratio of 7.15 and a beta of -0.27.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HSBC raised shares of VNET Group from a “hold” rating to a “buy” rating and set a $5.20 target price for the company in a research note on Wednesday, October 9th. StockNews.com upgraded shares of VNET Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Citigroup began coverage on VNET Group in a report on Wednesday, September 4th. They issued a “buy” rating and a $4.00 price target for the company. Finally, Hsbc Global Res raised VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $3.97.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.