SINA Corp (SINA) Expected to Announce Quarterly Sales of $576.49 Million
Brokerages forecast that SINA Corp (NASDAQ:SINA) will post sales of $576.49 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for SINA’s earnings, with estimates ranging from $572.40 million to $580.57 million. SINA posted sales of $443.15 million during the same quarter last year, which suggests a positive year over year growth rate of 30.1%. The business is scheduled to issue its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that SINA will report full year sales of $2.22 billion for the current year, with estimates ranging from $2.21 billion to $2.22 billion. For the next year, analysts expect that the company will post sales of $2.94 billion, with estimates ranging from $2.86 billion to $3.01 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow SINA.
SINA (NASDAQ:SINA) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.50 by $0.39. The company had revenue of $537.36 million during the quarter, compared to analyst estimates of $538.10 million. SINA had a net margin of 8.23% and a return on equity of 4.39%. SINA’s quarterly revenue was up 49.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share.
NASDAQ SINA traded up $1.17 on Friday, hitting $70.06. 627,100 shares of the stock were exchanged, compared to its average volume of 925,983. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 33.52 and a beta of 0.96. SINA has a 52-week low of $63.20 and a 52-week high of $124.60.
Institutional investors and hedge funds have recently modified their holdings of the company. Atlas Capital Advisors LLC purchased a new stake in shares of SINA during the second quarter valued at $104,000. Financial Gravity Wealth Inc. purchased a new stake in shares of SINA during the first quarter valued at $131,000. Redpoint Investment Management Pty Ltd purchased a new stake in shares of SINA during the second quarter valued at $202,000. XR Securities LLC purchased a new stake in shares of SINA during the second quarter valued at $206,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 813 shares during the period. 67.00% 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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