Zacks: Brokerages Anticipate SINA Corp (SINA) Will Post Earnings of $0.76 Per Share
Wall Street brokerages forecast that SINA Corp (NASDAQ:SINA) will report earnings per share of $0.76 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SINA’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.74. SINA posted earnings per share of $0.77 in the same quarter last year, which would indicate a negative year over year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, November 20th.
Zacks’ EPS calculations are an average based on a survey of research firms that follow SINA.
SINA has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $144.00 price objective on shares of SINA in a research note on Thursday, July 26th. Zacks Investment Research raised shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Monday, July 30th. ValuEngine downgraded shares of SINA from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. JPMorgan Chase & Co. initiated coverage on shares of SINA in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $150.00 price objective for the company. Finally, BidaskClub raised shares of SINA from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $122.40.
Several institutional investors have recently bought and sold shares of SINA. Atlas Capital Advisors LLC purchased a new position in SINA during the second quarter valued at approximately $104,000. First Hawaiian Bank purchased a new position in SINA during the third quarter valued at approximately $125,000. Redpoint Investment Management Pty Ltd purchased a new position in SINA during the second quarter valued at approximately $202,000. PNC Financial Services Group Inc. increased its holdings in SINA by 44.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock valued at $222,000 after buying an additional 813 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new position in SINA during the third quarter valued at approximately $244,000. 66.83% of the stock is owned by hedge funds and other institutional investors.
SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.
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