$3.44 Billion in Sales Expected for Baidu, Inc. (BIDU) This Quarter
Brokerages expect Baidu, Inc. (NASDAQ:BIDU) to announce sales of $3.44 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Baidu’s earnings, with the lowest sales estimate coming in at $3.26 billion and the highest estimate coming in at $3.58 billion. Baidu posted sales of $2.74 billion in the same quarter last year, which would indicate a positive year over year growth rate of 25.5%. The company is expected to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Baidu will report full-year sales of $3.44 billion for the current fiscal year, with estimates ranging from $12.49 billion to $13.16 billion. For the next fiscal year, analysts forecast that the firm will report sales of $15.32 billion per share, with estimates ranging from $14.77 billion to $16.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Baidu.
BIDU has been the subject of several recent analyst reports. Vetr upgraded shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 price objective for the company in a research note on Tuesday, September 26th. BidaskClub upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company initiated coverage on shares of Baidu in a research report on Tuesday, September 26th. They set an “outperform” rating and a $290.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and set a $208.00 price target on shares of Baidu in a research note on Monday, June 19th. Finally, Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $189.00 to $252.00 in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $223.12.
Baidu (BIDU) traded up 2.66% during trading on Thursday, reaching $247.69. The company had a trading volume of 3,402,373 shares. The stock has a market capitalization of $85.89 billion, a price-to-earnings ratio of 45.15 and a beta of 1.98. Baidu has a 1-year low of $159.54 and a 1-year high of $248.00. The firm has a 50-day moving average of $227.76 and a 200-day moving average of $193.39.
Large investors have recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its holdings in Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after purchasing an additional 253 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in shares of Baidu by 9.1% in the second quarter. Comgest Global Investors S.A.S. now owns 2,659,934 shares of the information services provider’s stock valued at $475,756,000 after acquiring an additional 222,300 shares in the last quarter. AXA boosted its holdings in shares of Baidu by 5.7% in the second quarter. AXA now owns 506,866 shares of the information services provider’s stock valued at $90,658,000 after acquiring an additional 27,420 shares in the last quarter. Hosking Partners LLP boosted its holdings in shares of Baidu by 1.6% in the second quarter. Hosking Partners LLP now owns 72,586 shares of the information services provider’s stock valued at $12,983,000 after acquiring an additional 1,172 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Baidu by 2.4% in the second quarter. Lazard Asset Management LLC now owns 5,879,990 shares of the information services provider’s stock valued at $1,051,693,000 after acquiring an additional 138,105 shares in the last quarter. 64.14% of the stock is owned by institutional investors.
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Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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