Sina Corp. (SINA) Reaches New 12-Month High at $55.30
Sina Corp. (NASDAQ:SINA) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $55.30 and last traded at $55.25, with a volume of 664,603 shares trading hands. The stock had previously closed at $52.03.
Several brokerages have recently issued reports on SINA. Brean Capital reaffirmed a “buy” rating on shares of Sina Corp. in a research report on Tuesday, May 31st. Zacks Investment Research raised Sina Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Jefferies Group raised Sina Corp. from a “hold” rating to a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $50.83.
The firm has a market capitalization of $3.85 billion and a PE ratio of 69.62. The company has a 50-day moving average price of $51.69 and a 200 day moving average price of $48.07.
Sina Corp. (NASDAQ:SINA) last issued its quarterly earnings results on Wednesday, May 11th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $198.70 million for the quarter, compared to the consensus estimate of $189.47 million. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities analysts expect that Sina Corp. will post $0.83 EPS for the current year.
A hedge fund recently raised its stake in Sina Corp. stock. First Trust Advisors LP raised its stake in Sina Corp. (NASDAQ:SINA) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,426 shares of the company’s stock after buying an additional 1,352 shares during the period. First Trust Advisors LP owned about 0.05% of Sina Corp. worth $1,552,000 as of its most recent filing with the SEC.
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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