$561.50 Million in Sales Expected for SINA Corp (SINA) This Quarter

Wall Street brokerages expect SINA Corp (NASDAQ:SINA) to report $561.50 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for SINA’s earnings, with the highest sales estimate coming in at $572.40 million and the lowest estimate coming in at $550.59 million. SINA posted sales of $443.15 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.7%. The company is scheduled to issue its next earnings results on Tuesday, November 6th.

On average, analysts expect that SINA will report full-year sales of $2.19 billion for the current fiscal year, with estimates ranging from $2.13 billion to $2.22 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.85 billion, with estimates ranging from $2.76 billion to $2.94 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow SINA.

SINA (NASDAQ:SINA) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.39. The business had revenue of $537.36 million for the quarter, compared to the consensus estimate of $538.10 million. SINA had a net margin of 8.23% and a return on equity of 4.39%. The company’s revenue for the quarter was up 49.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS.

A number of analysts have recently weighed in on SINA shares. BidaskClub cut shares of SINA from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine cut shares of SINA from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Jefferies Financial Group restated a “buy” rating and issued a $144.00 price target on shares of SINA in a report on Thursday, July 26th. Zacks Investment Research upgraded shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Monday, July 30th. Finally, JPMorgan Chase & Co. started coverage on shares of SINA in a report on Wednesday, August 29th. They issued an “overweight” rating and a $150.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $135.00.

Shares of NASDAQ:SINA traded up $3.49 during trading on Monday, reaching $62.50. The stock had a trading volume of 909,762 shares, compared to its average volume of 930,286. SINA has a one year low of $57.85 and a one year high of $124.60. The stock has a market capitalization of $4.97 billion, a P/E ratio of 29.90 and a beta of 0.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.02 and a current ratio of 3.02.

Several large investors have recently added to or reduced their stakes in SINA. Atlas Capital Advisors LLC bought a new stake in shares of SINA in the 2nd quarter valued at about $104,000. Financial Gravity Wealth Inc. acquired a new stake in SINA in the 1st quarter worth approximately $131,000. Redpoint Investment Management Pty Ltd acquired a new stake in SINA in the 2nd quarter worth approximately $202,000. XR Securities LLC acquired a new stake in SINA in the 2nd quarter worth approximately $206,000. Finally, PNC Financial Services Group Inc. boosted its stake in SINA by 44.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,626 shares of the technology company’s stock worth $222,000 after purchasing an additional 813 shares in the last quarter. Institutional investors and hedge funds 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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