Sina Corp. (NASDAQ:SINA) – Research analysts at Jefferies Group raised their FY2017 earnings estimates for shares of Sina Corp. in a research report issued on Thursday. Jefferies Group analyst now anticipates that the firm will post earnings of $1.45 per share for the year, up from their previous forecast of $1.40. Jefferies Group has a “Buy” rating and a $95.00 price objective on the stock. Jefferies Group also issued estimates for Sina Corp.’s FY2018 earnings at $2.39 EPS.
Sina Corp. (NASDAQ:SINA) last released its quarterly earnings data on Monday, August 8th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Sina Corp. had a return on equity of 0.32% and a net margin of 8.97%. The business had revenue of $244 million for the quarter, compared to the consensus estimate of $231.09 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis.
A number of other brokerages have also recently weighed in on SINA. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Sina Corp. in a report on Wednesday, August 31st. Brean Capital restated a “buy” rating on shares of Sina Corp. in a research note on Tuesday, August 16th. TheStreet upgraded Sina Corp. to a “buy” rating in a research note on Friday, August 19th. Citigroup Inc. started coverage on Sina Corp. in a research note on Friday, August 5th. They set a “buy” rating and a $69.00 price objective on the stock. Finally, Zacks Investment Research cut Sina Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.14.
Sina Corp. (NASDAQ:SINA) opened at 73.83 on Monday. The stock has a 50 day moving average price of $75.32 and a 200-day moving average price of $57.17. The stock has a market cap of $5.17 billion, a P/E ratio of 59.78 and a beta of 1.39. Sina Corp. has a 12-month low of $39.58 and a 12-month high of $85.24.
Hedge funds have recently made changes to their positions in the stock. AHL Partners LLP purchased a new stake in shares of Sina Corp. during the second quarter valued at $2,200,000. Toronto Dominion Bank purchased a new stake in shares of Sina Corp. during the second quarter valued at $1,457,000. Voloridge Investment Management LLC purchased a new stake in shares of Sina Corp. during the second quarter valued at $1,779,000. Marshall Wace LLP raised its stake in shares of Sina Corp. by 891.6% in the second quarter. Marshall Wace LLP now owns 99,798 shares of the company’s stock valued at $5,177,000 after buying an additional 89,734 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Sina Corp. by 1.9% in the second quarter. Parametric Portfolio Associates LLC now owns 93,360 shares of the company’s stock valued at $4,843,000 after buying an additional 1,779 shares in the last quarter. 58.88% of the stock is owned by hedge funds and other institutional investors.
Sina Corp. 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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