Zacks: Brokerages Anticipate Baidu, Inc. (BIDU) Will Post Earnings of $2.32 Per Share
Equities analysts expect Baidu, Inc. (NASDAQ:BIDU) to report earnings per share (EPS) of $2.32 for the current quarter, Zacks reports. Two analysts have made estimates for Baidu’s earnings. The lowest EPS estimate is $2.02 and the highest is $2.61. Baidu reported earnings of $1.49 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 55.7%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Baidu will report full-year earnings of $7.63 per share for the current fiscal year, with EPS estimates ranging from $7.02 to $8.23. For the next fiscal year, analysts forecast that the company will report earnings of $8.06 per share, with EPS estimates ranging from $6.27 to $9.20. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Baidu.
A number of research analysts have recently commented on BIDU shares. ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Vetr raised Baidu from a “buy” rating to a “strong-buy” rating and set a $205.36 price target on the stock in a research report on Monday, June 12th. BidaskClub cut Baidu from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating and set a $208.00 price objective on shares of Baidu in a report on Monday, June 19th. Finally, TheStreet cut Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Baidu currently has an average rating of “Buy” and a consensus price target of $210.77.
Baidu (NASDAQ BIDU) traded up 2.74% on Thursday, reaching $233.18. The company’s stock had a trading volume of 2,477,209 shares. Baidu has a 12 month low of $159.54 and a 12 month high of $233.79. The firm has a 50 day moving average of $220.41 and a 200 day moving average of $189.95. The firm has a market cap of $80.86 billion, a price-to-earnings ratio of 43.46 and a beta of 1.98. Baidu also was the recipient of some unusual options trading on Monday. Stock investors bought 10,094 put options on the company. This is an increase of approximately 107% compared to the typical daily volume of 4,865 put options.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Baidu by 4,625.7% in the 1st quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares during the period. Capital World Investors lifted its holdings in Baidu by 54.2% in the 2nd quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after buying an additional 3,419,291 shares during the period. Harris Associates L P lifted its holdings in Baidu by 29.7% in the 2nd quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after buying an additional 2,066,614 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Baidu by 4.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,975,135 shares of the information services provider’s stock worth $1,426,433,000 after buying an additional 335,168 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Baidu by 7.4% in the 2nd quarter. Franklin Resources Inc. now owns 7,219,564 shares of the information services provider’s stock worth $1,291,291,000 after buying an additional 498,060 shares during the period. Institutional investors and hedge funds own 64.15% of the company’s stock.
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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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