Brokerages Anticipate SINA Corp (SINA) Will Post Quarterly Sales of $553.10 Million

Wall Street brokerages predict that SINA Corp (NASDAQ:SINA) will post $553.10 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SINA’s earnings, with the lowest sales estimate coming in at $550.59 million and the highest estimate coming in at $555.60 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 24.8%. The business is expected to announce its next quarterly earnings report before the market opens on Wednesday, November 28th.

According to Zacks, analysts expect that SINA will report full year sales of $2.15 billion for the current year, with estimates ranging from $2.13 billion to $2.18 billion. For the next fiscal year, analysts expect that the company will report sales of $2.70 billion, with estimates ranging from $2.64 billion to $2.76 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow SINA.

A number of research firms have weighed in on SINA. Zacks Investment Research upgraded shares of SINA from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Monday, July 30th. BidaskClub upgraded shares of SINA from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 16th. Jefferies Financial Group restated a “buy” rating and issued a $89.00 price target on shares of SINA in a report on Tuesday, November 20th. 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 objective for the company. Finally, ValuEngine lowered shares of SINA from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $111.40.

SINA stock traded up $1.71 during mid-day trading on Monday, reaching $62.45. 908,500 shares of the stock traded hands, compared to its average volume of 904,527. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.24. SINA has a one year low of $56.67 and a one year high of $124.60. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 29.80 and a beta of 0.99.

Several institutional investors have recently added to or reduced their stakes in SINA. Dimensional Fund Advisors LP raised its stake in shares of SINA by 25.3% during the first quarter. Dimensional Fund Advisors LP now owns 27,098 shares of the technology company’s stock worth $2,826,000 after purchasing an additional 5,467 shares during the last quarter. Royal Bank of Canada grew its holdings in SINA by 44.0% during the first quarter. Royal Bank of Canada now owns 9,245 shares of the technology company’s stock worth $965,000 after acquiring an additional 2,826 shares during the period. Xact Kapitalforvaltning AB grew its holdings in SINA by 22.7% during the second quarter. Xact Kapitalforvaltning AB now owns 8,100 shares of the technology company’s stock worth $686,000 after acquiring an additional 1,500 shares during the period. Bank of Montreal Can acquired a new position in SINA during the second quarter worth $406,000. Finally, Thomas White International Ltd. acquired a new position in SINA during the second quarter worth $1,990,000. Institutional investors and hedge funds own 66.83% of the company’s stock.

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

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