Brokerages Expect Sina Corporation (SINA) Will Announce Earnings of $0.73 Per Share
Equities analysts predict that Sina Corporation (NASDAQ:SINA) will post $0.73 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Sina Corporation’s earnings. The highest EPS estimate is $0.75 and the lowest is $0.71. Sina Corporation posted earnings of $0.56 per share in the same quarter last year, which indicates a positive year over year growth rate of 30.4%. The business is scheduled to report its next quarterly earnings results on Monday, November 20th.
Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Sina Corporation.
Sina Corporation (NASDAQ:SINA) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.27. Sina Corporation had a return on equity of 6.58% and a net margin of 18.64%. The business had revenue of $358.93 million for the quarter, compared to the consensus estimate of $344.23 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 47.1% on a year-over-year basis.
A number of brokerages have recently issued reports on SINA. BidaskClub lowered Sina Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Sina Corporation in a research report on Friday, August 11th. Citigroup Inc. lifted their target price on Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Sina Corporation from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Sina Corporation in a research report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $104.08.
A number of institutional investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. increased its holdings in Sina Corporation by 26.2% in the third quarter. Eqis Capital Management Inc. now owns 14,031 shares of the technology company’s stock valued at $1,609,000 after buying an additional 2,917 shares during the last quarter. Navellier & Associates Inc increased its holdings in Sina Corporation by 2.2% in the second quarter. Navellier & Associates Inc now owns 13,554 shares of the technology company’s stock valued at $1,152,000 after buying an additional 295 shares during the last quarter. Koch Industries Inc. bought a new stake in Sina Corporation in the second quarter valued at about $1,385,000. 1st Global Advisors Inc. bought a new stake in Sina Corporation in the second quarter valued at about $443,000. Finally, Verition Fund Management LLC bought a new stake in Sina Corporation in the second quarter valued at about $205,000. 66.91% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was first posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2017/10/04/brokerages-expect-sina-corporation-sina-will-announce-earnings-of-0-73-per-share.html.
Sina Corporation (NASDAQ SINA) traded down 1.83% on Wednesday, hitting $116.50. The stock had a trading volume of 729,965 shares. Sina Corporation has a 12-month low of $60.46 and a 12-month high of $119.20. The firm has a market cap of $8.29 billion, a PE ratio of 38.15 and a beta of 1.16. The company’s 50 day moving average is $109.27 and its 200 day moving average is $91.69.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sina Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corporation and related companies with MarketBeat.com's FREE daily email newsletter.