VNET Group (VNET) to Release Quarterly Earnings on Wednesday

VNET Group (NASDAQ:VNET) will 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 are interested in participating in the company’s earnings conference call can do so using this link.

VNET Group (NASDAQ:VNET) last released its quarterly earnings results on Tuesday, August 27th. The information technology services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $274.35 million during the quarter, compared to analyst estimates of $266.56 million. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. 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 Trading Down 3.1 %

Shares of NASDAQ:VNET opened at $3.48 on Wednesday. VNET Group has a fifty-two week low of $1.39 and a fifty-two week high of $4.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The company has a market cap of $895.75 million, a PE ratio of -1.49, a P/E/G ratio of 7.23 and a beta of -0.27. The company’s 50-day moving average price is $3.49 and its 200 day moving average price is $2.56.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VNET shares. HSBC upgraded VNET Group from a “hold” rating to a “buy” rating and set a $5.20 price objective for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded VNET Group to a “strong-buy” rating in a research report on Wednesday, October 9th. StockNews.com raised VNET Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Citigroup initiated coverage on VNET Group in a research note on Wednesday, September 4th. They set a “buy” rating and a $4.00 target price for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $3.97.

About VNET Group

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.