Baidu Inc (NASDAQ:BIDU) Expected to Post Quarterly Sales of $3.96 Billion

Brokerages expect Baidu Inc (NASDAQ:BIDU) to post sales of $3.96 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Baidu’s earnings. The lowest sales estimate is $3.87 billion and the highest is $4.05 billion. Baidu also posted sales of $3.96 billion in the same quarter last year. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, February 27th.

On average, analysts expect that Baidu will report full year sales of $15.36 billion for the current fiscal year, with estimates ranging from $14.86 billion to $15.95 billion. For the next year, analysts anticipate that the company will report sales of $17.10 billion, with estimates ranging from $16.70 billion to $17.73 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Baidu.

A number of analysts have recently commented on the company. Daiwa Capital Markets upgraded Baidu from a “hold” rating to an “outperform” rating and boosted their price target for the company from $105.00 to $124.00 in a report on Friday, November 8th. Mizuho boosted their price target on Baidu from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upgraded Baidu from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 7th. CICC Research upgraded Baidu from a “neutral” rating to an “outperform” rating in a report on Thursday, November 7th. Finally, KeyCorp boosted their price target on Baidu from $155.00 to $161.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Baidu has a consensus rating of “Buy” and a consensus price target of $147.92.

Several institutional investors and hedge funds have recently made changes to their positions in BIDU. Sunbelt Securities Inc. boosted its position in shares of Baidu by 185.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 5,932 shares of the information services provider’s stock worth $610,000 after purchasing an additional 3,852 shares in the last quarter. Congress Park Capital LLC bought a new position in shares of Baidu during the 4th quarter worth approximately $455,000. Parallel Advisors LLC lifted its position in shares of Baidu by 17.8% during the 3rd quarter. Parallel Advisors LLC now owns 1,276 shares of the information services provider’s stock worth $131,000 after buying an additional 193 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Baidu during the 3rd quarter worth approximately $1,987,000. Finally, California Public Employees Retirement System lifted its position in shares of Baidu by 23.6% during the 4th quarter. California Public Employees Retirement System now owns 652,260 shares of the information services provider’s stock worth $82,446,000 after buying an additional 124,430 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

BIDU stock traded down $0.61 during midday trading on Tuesday, hitting $134.57. 1,696,492 shares of the company’s stock were exchanged, compared to its average volume of 4,318,928. The company has a market cap of $47.22 billion, a PE ratio of -149.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.79. The stock’s fifty day moving average price is $133.18 and its 200-day moving average price is $115.25. Baidu has a one year low of $93.39 and a one year high of $186.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.59 and a current ratio of 2.59.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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