SINA Corp (SINA) Expected to Post Earnings of $0.76 Per Share

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Wall Street analysts forecast that SINA Corp (NASDAQ:SINA) will report earnings of $0.76 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for SINA’s earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.74. SINA posted earnings per share of $0.77 during the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The business is expected to issue its next quarterly earnings report on Tuesday, November 6th.

Zacks’ earnings per share averages are an average based on a survey of research firms that follow SINA.

SINA (NASDAQ:SINA) last released its earnings results on Wednesday, August 8th. The technology company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.39. SINA had a net margin of 8.23% and a return on equity of 4.39%. The firm had revenue of $537.36 million for the quarter, compared to analyst estimates of $538.10 million. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 49.7% compared to the same quarter last year.

A number of analysts recently weighed in on the stock. BidaskClub lowered shares of SINA from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine lowered shares of SINA from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $144.00 price target on shares of SINA in a research note on Thursday, July 26th. JPMorgan Chase & Co. assumed coverage on shares of SINA in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $150.00 price target on the stock. Finally, Zacks Investment Research lowered shares of SINA from a “hold” rating to a “strong sell” rating in a research note on Friday, September 7th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. SINA presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Shares of SINA stock traded up $3.49 during trading hours on Friday, reaching $62.50. 909,762 shares of the stock were exchanged, compared to its average volume of 930,286. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.02 and a current ratio of 3.02. SINA has a 12-month low of $57.85 and a 12-month high of $124.60. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 29.90 and a beta of 0.95.

A number of institutional investors have recently made changes to their positions in SINA. Atlas Capital Advisors LLC purchased a new position in SINA in the second quarter valued at approximately $104,000. Financial Gravity Wealth Inc. purchased a new position in SINA in the first quarter valued at approximately $131,000. Redpoint Investment Management Pty Ltd purchased a new position in SINA in the second quarter valued at approximately $202,000. XR Securities LLC purchased a new position in SINA in the second quarter valued at approximately $206,000. Finally, PNC Financial Services Group Inc. increased its stake in SINA by 44.8% in 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 last quarter. Institutional investors own 67.00% of the company’s stock.

SINA Company Profile

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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Earnings History and Estimates for SINA (NASDAQ:SINA)

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