Company Update (NASDAQ:YHOO): Short Interest in Yahoo Plunges by Over 9 Million Shares

[at 24/7 Wall St.] – Shares sold short in Yahoo dropped by more than 9 million shares in the period that ended March 15, just ahead of a proxy war between Yahoo and hedge fund Starboard Value. Read more on this. Yahoo! Inc. (YHOO) , valued at $33.01B, started trading this morning at $34.45. Shares have traded today between $33.93 and $34.87 per share with a one year range of $26.15 to $46.17. Yahoo (YHOO) shares are currently priced at 65.77x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.40x earnings multiple for the same period. Consensus earnings for the current quarter by the 35 sell-side analysts covering the stock is an estimate of $0.07 per share, which would be $0.08 worse than the year-ago quarter and a $0.07 sequential decrease. The full-year EPS estimate is $0.53, which would be a $0.06 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.08 Billion. If reported, that would be a 12.20% decrease over the year-ago quarter. Recently, Citigroup downgraded YHOO from Buy to Neutral (Mar 22, 2016). Previously, Citigroup upgraded YHOO from Neutral to Buy. The average price target for YHOO shares is $37.88, which is 9.96% above where the stock opened this morning. See more in (NASDAQ:YHOO) Similar Articles: Market Update: Yahoo! Inc. (NASDAQ:YHOO) – How Yahoo Is Trying To Drive Revenues For Tumblr? Market Update: Yahoo! Inc. (NASDAQ:YHOO) – Here’s Why Yahoo (YHOO) Stock Closed Up Today Company Update: Yahoo! Inc. (NASDAQ:YHOO) – Yahoo (YHOO) Stock Edges Up After Shutting Down Several Products