Zacks: Analysts Anticipate SINA Corp (SINA) Will Announce Quarterly Sales of $440.12 Million

Equities analysts expect SINA Corp (NASDAQ:SINA) to report sales of $440.12 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for SINA’s earnings, with the highest sales estimate coming in at $440.84 million and the lowest estimate coming in at $439.40 million. SINA reported sales of $278.07 million in the same quarter last year, which would indicate a positive year over year growth rate of 58.3%. The company is expected to report its next earnings results on Tuesday, May 15th.

On average, analysts expect that SINA will report full year sales of $440.12 million for the current fiscal year, with estimates ranging from $2.26 billion to $2.35 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.15 billion per share, with estimates ranging from $3.02 billion to $3.29 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover SINA.

How to Become a New Pot Stock Millionaire

SINA (NASDAQ:SINA) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.29. SINA had a net margin of 9.89% and a return on equity of 3.99%. The business had revenue of $503.70 million during the quarter, compared to the consensus estimate of $482.59 million. During the same quarter last year, the firm posted $0.63 EPS. SINA’s revenue was up 62.1% compared to the same quarter last year.

SINA has been the subject of several research reports. BidaskClub raised shares of SINA from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Jefferies Group reissued a “buy” rating and issued a $175.00 price target on shares of SINA in a research report on Wednesday, January 24th. Zacks Investment Research raised shares of SINA from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 24th. Benchmark lifted their price target on shares of SINA from $157.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase lifted their price target on shares of SINA from $175.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $139.00.

NASDAQ SINA traded down $2.63 during mid-day trading on Friday, hitting $96.68. The company’s stock had a trading volume of 739,131 shares, compared to its average volume of 942,643. SINA has a twelve month low of $68.33 and a twelve month high of $124.60. The company has a current ratio of 3.22, a quick ratio of 2.68 and a debt-to-equity ratio of 0.24. The company has a market cap of $6,914.07, a P/E ratio of 46.26 and a beta of 1.14.

A number of institutional investors and hedge funds have recently bought and sold shares of SINA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in SINA during the 4th quarter worth $126,000. Financial Gravity Companies Inc. purchased a new position in SINA during the 4th quarter worth $137,000. Stifel Financial Corp purchased a new position in SINA during the 3rd quarter worth $210,000. Sheaff Brock Investment Advisors LLC purchased a new position in SINA during the 3rd quarter worth $214,000. Finally, B. Riley Financial Inc. purchased a new position in SINA during the 4th quarter worth $234,000. 66.04% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: This piece was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/09/zacks-analysts-anticipate-sina-corp-sina-will-announce-quarterly-sales-of-440-12-million.html.

About SINA

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, entertainment, and education; and education, digital, fashion, eLadies, luxury, health, collectibles, travel, and other interest-based channels.

Get a free copy of the Zacks research report on SINA (SINA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SINA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SINA and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply