Brokers Set Expectations for Sina Corp.’s FY2017 Earnings (SINA)
Sina Corp. (NASDAQ:SINA) – Equities researchers at Jefferies Group raised their FY2017 earnings per share estimates for shares of Sina Corp. in a research report issued on Thursday. Jefferies Group analyst now forecasts that the firm will post earnings of $1.45 per share for the year, up from their prior estimate of $1.40. Jefferies Group currently has a “Buy” rating and a $95.00 price target on the stock. Jefferies Group also issued estimates for Sina Corp.’s FY2018 earnings at $2.39 EPS.
Several other equities research analysts have also issued reports on SINA. Zacks Investment Research lowered shares of Sina Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Brean Capital reaffirmed a “buy” rating on shares of Sina Corp. in a research note on Tuesday, July 19th. TheStreet raised shares of Sina Corp. to a “buy” rating in a research note on Friday, August 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Sina Corp. in a research note on Wednesday, August 31st. Finally, Citigroup Inc. began coverage on shares of Sina Corp. in a research note on Friday, August 5th. They issued a “buy” rating and a $69.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $60.14.
Shares of Sina Corp. (NASDAQ:SINA) traded down 0.90% during midday trading on Monday, reaching $78.40. The company’s stock had a trading volume of 225,136 shares. The stock’s 50 day moving average is $75.68 and its 200 day moving average is $57.75. The stock has a market capitalization of $5.49 billion, a PE ratio of 63.48 and a beta of 1.39. Sina Corp. has a 12 month low of $39.58 and a 12 month high of $85.24.
Sina Corp. (NASDAQ:SINA) last announced its earnings results on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $244 million for the quarter, compared to analysts’ expectations of $231.09 million. Sina Corp. had a return on equity of 0.32% and a net margin of 8.97%. Sina Corp.’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased its position in Sina Corp. by 1.7% in the first quarter. Commonwealth Equity Services Inc now owns 9,094 shares of the company’s stock valued at $431,000 after buying an additional 149 shares during the last quarter. BlackRock Group LTD increased its position in Sina Corp. by 10.5% in the first quarter. BlackRock Group LTD now owns 37,781 shares of the company’s stock valued at $1,790,000 after buying an additional 3,599 shares during the last quarter. Contrarius Investment Management Ltd increased its position in Sina Corp. by 25.8% in the first quarter. Contrarius Investment Management Ltd now owns 161,298 shares of the company’s stock valued at $7,641,000 after buying an additional 33,045 shares during the last quarter. Pictet Asset Management Ltd. bought a new position in Sina Corp. during the first quarter valued at about $3,513,000. Finally, Geode Capital Management LLC increased its position in Sina Corp. by 9.7% in the first quarter. Geode Capital Management LLC now owns 22,943 shares of the company’s stock valued at $1,086,000 after buying an additional 2,038 shares during the last quarter. Institutional investors own 58.88% of the company’s stock.
About Sina Corp.
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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