Sina Corp. (SINA) Stock Rating Reaffirmed by Jefferies Group
Sina Corp. (NASDAQ:SINA)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group in a research report issued on Friday. They presently have a $95.00 price target on the stock. Jefferies Group’s price target suggests a potential upside of 25.03% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Sina Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, June 28th. Brean Capital reissued a “buy” rating on shares of Sina Corp. in a report on Tuesday, June 7th. TheStreet raised Sina Corp. to a “buy” rating in a report on Friday, August 19th. Citigroup Inc. began coverage on Sina Corp. in a report on Friday, August 5th. They set a “buy” rating and a $69.00 price target for the company. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Sina Corp. in a report on Wednesday, August 31st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Sina Corp. currently has an average rating of “Buy” and an average price target of $60.14.
Shares of Sina Corp. (NASDAQ:SINA) opened at 75.98 on Friday. Sina Corp. has a 12-month low of $39.58 and a 12-month high of $85.24. The stock has a 50 day moving average of $75.21 and a 200-day moving average of $56.98. The company has a market capitalization of $5.32 billion, a PE ratio of 61.52 and a beta of 1.68.
Sina Corp. (NASDAQ:SINA) last released its earnings results on Monday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12. Sina Corp. had a net margin of 8.97% and a return on equity of 0.32%. The firm had revenue of $244 million for the quarter, compared to analyst estimates of $231.09 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Analysts predict that Sina Corp. will post $1.08 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its position in Sina Corp. by 159.0% in the second quarter. Schroder Investment Management Group now owns 4,013,943 shares of the company’s stock valued at $208,203,000 after buying an additional 2,464,232 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in Sina Corp. by 21.4% in the second quarter. Platinum Investment Management Ltd. now owns 5,211,734 shares of the company’s stock valued at $270,332,000 after buying an additional 918,532 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Sina Corp. during the second quarter valued at about $28,368,000. First Manhattan Co. acquired a new position in Sina Corp. during the second quarter valued at about $21,142,000. Finally, Ariose Capital Management Ltd purchased a new position in shares of Sina Corp. during the second quarter worth $17,320,000. Hedge funds and other institutional investors own 58.88% of the company’s stock.
Sina Corp. 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.
Receive News & Stock Ratings for Sina Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sina Corp. and related stocks with our FREE daily email newsletter.