SINA Corp (SINA) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of SINA Corp (NASDAQ:SINA) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $127.50.
SINA has been the subject of a number of recent research reports. Benchmark boosted their price objective on SINA from $142.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Zacks Investment Research downgraded SINA from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, BidaskClub downgraded SINA from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd.
A number of hedge funds have recently bought and sold shares of SINA. Bank of New York Mellon Corp boosted its stake in SINA by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,865 shares of the technology company’s stock worth $6,360,000 after purchasing an additional 1,277 shares during the period. Eaton Vance Management bought a new position in SINA in the 2nd quarter worth approximately $700,000. Alliancebernstein L.P. bought a new position in SINA in the 2nd quarter worth approximately $414,000. Teachers Advisors LLC boosted its stake in SINA by 476.0% in the 2nd quarter. Teachers Advisors LLC now owns 147,871 shares of the technology company’s stock worth $12,565,000 after purchasing an additional 122,200 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in SINA by 23.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 138,191 shares of the technology company’s stock worth $11,742,000 after purchasing an additional 25,826 shares during the period. Institutional investors and hedge funds own 69.40% of the company’s stock.
SINA (NASDAQ:SINA) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.26. SINA had a net margin of 9.41% and a return on equity of 3.36%. The firm had revenue of $440.50 million during the quarter, compared to analyst estimates of $404.71 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 60.2% compared to the same quarter last year. sell-side analysts expect that SINA will post 2.13 earnings per share for the current fiscal year.
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SINA Company Profile
Sina Corporation is an online media company serving China and the global Chinese communities. The Company’s digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile applications) and Weibo (social media) enables Internet users to access professional media and user generated content (UGCs) in multi-media formats from personal computers and mobile devices, and share their interests with friends and acquaintances.
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