FY2017 EPS Estimates for Sina Corporation Reduced by Analyst (SINA)
Sina Corporation (NASDAQ:SINA) – Research analysts at Jefferies Group dropped their FY2017 earnings per share (EPS) estimates for Sina Corporation in a report issued on Wednesday. Jefferies Group analyst now anticipates that the technology company will post earnings of $2.15 per share for the year, down from their prior forecast of $2.19. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Sina Corporation’s FY2018 earnings at $3.46 EPS and FY2019 earnings at $4.75 EPS.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.26. Sina Corporation had a net margin of 9.41% and a return on equity of 3.36%. The firm had revenue of $440.50 million during the quarter, compared to analyst estimates of $404.71 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 60.2% compared to the same quarter last year.
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Several other research firms have also commented on SINA. Bank of America Corporation reaffirmed a “buy” rating and set a $119.00 price target (up previously from $112.00) on shares of Sina Corporation in a research report on Thursday, August 10th. Benchmark Co. upped their price target on shares of Sina Corporation from $142.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research lowered shares of Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Citigroup Inc. upped their price target on shares of Sina Corporation to $140.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, BidaskClub raised shares of Sina Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $109.96.
Shares of Sina Corporation (NASDAQ:SINA) opened at $105.84 on Monday. Sina Corporation has a 52-week low of $60.46 and a 52-week high of $119.20. The company has a market cap of $7,569.15, a PE ratio of 72.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.69 and a current ratio of 2.68.
Several large investors have recently made changes to their positions in SINA. Bank of Montreal Can grew its stake in shares of Sina Corporation by 11.7% during the 2nd quarter. Bank of Montreal Can now owns 1,452 shares of the technology company’s stock valued at $123,000 after acquiring an additional 152 shares during the period. US Bancorp DE grew its stake in shares of Sina Corporation by 55.1% during the 2nd quarter. US Bancorp DE now owns 1,501 shares of the technology company’s stock valued at $127,000 after acquiring an additional 533 shares during the period. Bronfman E.L. Rothschild L.P. bought a new position in shares of Sina Corporation during the 2nd quarter valued at approximately $136,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Sina Corporation by 11.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,330 shares of the technology company’s stock valued at $168,000 after acquiring an additional 230 shares during the period. Finally, ETF Managers Group LLC bought a new position in shares of Sina Corporation during the 2nd quarter valued at approximately $180,000. Institutional investors own 67.13% of the company’s stock.
Sina Corporation Company Profile
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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