$3.35 Billion in Sales Expected for Baidu Inc (BIDU) This Quarter

Equities research analysts expect Baidu Inc (NASDAQ:BIDU) to report sales of $3.35 billion for the current quarter, Zacks reports. Two analysts have made estimates for Baidu’s earnings, with estimates ranging from $3.18 billion to $3.51 billion. Baidu reported sales of $2.62 billion during the same quarter last year, which would suggest a positive year over year growth rate of 27.9%. The firm is scheduled to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Baidu will report full year sales of $3.35 billion for the current fiscal year, with estimates ranging from $11.72 billion to $13.16 billion. For the next financial year, analysts expect that the business will report sales of $15.29 billion per share, with estimates ranging from $14.74 billion to $15.65 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Baidu.

A number of equities research analysts have recently commented on BIDU shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of Baidu in a research report on Thursday, August 31st. Jefferies Group raised their price target on Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Erste Group raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. Macquarie reaffirmed a “top pick” rating on shares of Baidu in a research report on Monday, August 28th. Finally, OTR Global raised Baidu to a “positive” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $236.36.

Shares of Baidu (NASDAQ:BIDU) opened at $233.54 on Tuesday. The company has a market capitalization of $81,346.43, a PE ratio of 29.69, a PEG ratio of 1.39 and a beta of 1.89. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.34. Baidu has a 1 year low of $162.02 and a 1 year high of $274.97.

Several large investors have recently bought and sold shares of BIDU. Harding Loevner LP increased its position in shares of Baidu by 7,512.3% during the 3rd quarter. Harding Loevner LP now owns 299,359,034 shares of the information services provider’s stock worth $597,992,000 after purchasing an additional 295,426,466 shares during the last quarter. Capital World Investors increased its position in shares of Baidu by 54.2% during 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 purchasing an additional 3,419,291 shares during the last quarter. Harris Associates L P increased its position in shares of Baidu by 29.7% during 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 purchasing an additional 2,066,614 shares during the last quarter. Investec Asset Management LTD increased its position in shares of Baidu by 3,282.3% during the 3rd quarter. Investec Asset Management LTD now owns 1,202,148 shares of the information services provider’s stock worth $297,760,000 after purchasing an additional 1,166,606 shares during the last quarter. Finally, Veritas Asset Management LLP increased its position in shares of Baidu by 37.1% during the 2nd quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after purchasing an additional 920,687 shares during the last quarter. 64.10% of the stock is currently owned by hedge funds and other institutional investors.

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About Baidu

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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Earnings History and Estimates for Baidu (NASDAQ:BIDU)

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