VNET Group (VNET) to Release Quarterly Earnings on Wednesday

VNET Group (NASDAQ:VNET - Get Free Report) will issue its quarterly earnings data 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.Parties that wish to listen to the company's conference call can do so using this link.

VNET Group (NASDAQ:VNET - Get Free Report) last issued 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. VNET Group had a negative net margin of 34.62% and a negative return on equity of 11.44%. The firm had revenue of $274.35 million for the quarter, compared to analysts' expectations 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 Price Performance

NASDAQ VNET traded down $0.01 on Wednesday, reaching $3.47. The company's stock had a trading volume of 512,480 shares, compared to its average volume of 1,518,272. VNET Group has a twelve month low of $1.39 and a twelve month high of $4.50. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.87. The firm's 50 day moving average is $3.49 and its two-hundred day moving average is $2.56.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VNET. StockNews.com raised shares of VNET Group from a "sell" rating to a "hold" rating in a research note on Wednesday, August 21st. Citigroup initiated coverage on VNET Group in a research report on Wednesday, September 4th. They set a "buy" rating and a $4.00 price target on the stock. 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. Finally, Hsbc Global Res raised VNET Group to a "strong-buy" rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, VNET Group has a consensus rating of "Buy" and a consensus target price 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.