SINA (NASDAQ:SINA) Posts Earnings Results, Beats Expectations By $0.74 EPS

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SINA (NASDAQ:SINA) released its earnings results on Monday. The technology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.74, Briefing.com reports. SINA had a net margin of 6.06% and a return on equity of 3.47%. The business had revenue of $533.00 million for the quarter, compared to the consensus estimate of $519.55 million. During the same period in the previous year, the firm earned $0.89 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis.

SINA stock opened at $42.34 on Wednesday. SINA has a 52-week low of $32.99 and a 52-week high of $72.94. The company’s 50 day simple moving average is $39.50 and its 200-day simple moving average is $51.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.61 and a quick ratio of 2.61. The firm has a market capitalization of $2.69 billion, a P/E ratio of 24.91 and a beta of 1.37.

A number of analysts recently commented on SINA shares. Jefferies Financial Group started coverage on shares of SINA in a report on Monday, August 5th. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of SINA from a “hold” rating to a “strong sell” rating in a report on Thursday, May 23rd. BidaskClub upgraded shares of SINA from a “strong sell” rating to a “sell” rating in a report on Tuesday. Goldman Sachs Group upgraded shares of SINA from a “neutral” rating to a “buy” rating and cut their price target for the company from $71.00 to $61.00 in a report on Friday, May 31st. Finally, Macquarie lowered shares of SINA from an “outperform” rating to a “neutral” rating and set a $38.00 price target on the stock. in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $75.69.

Hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in shares of SINA by 66.8% during the first quarter. Lindbrook Capital LLC now owns 482 shares of the technology company’s stock valued at $28,000 after acquiring an additional 193 shares during the period. Destination Wealth Management purchased a new position in SINA during the second quarter valued at approximately $38,000. Signaturefd LLC grew its position in SINA by 53.6% during the second quarter. Signaturefd LLC now owns 885 shares of the technology company’s stock valued at $38,000 after purchasing an additional 309 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in SINA during the second quarter valued at approximately $52,000. Finally, Hall Laurie J Trustee grew its position in SINA by 668.6% during the second quarter. Hall Laurie J Trustee now owns 1,345 shares of the technology company’s stock valued at $58,000 after purchasing an additional 1,170 shares in the last quarter. Institutional investors and hedge funds own 65.02% 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.

See Also: Outstanding Shares

Earnings History for SINA (NASDAQ:SINA)

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