SouFun Holdings Ltd. (SFUN) Downgraded by Zacks Investment Research
SouFun Holdings Ltd. (NYSE:SFUN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Fang Holdings Limited operates as a real estate Internet portal primarily in China. It provides marketing, e-commerce, listing and other value-added services for real estate and home furnishing and improvement sectors. Fang Holdings Limited, formerly known as SouFun Holdings Limited, is based in Beijing, China. “
A number of other equities research analysts also recently issued reports on SFUN. Nomura lowered their target price on shares of SouFun Holdings from $7.94 to $6.79 and set a “buy” rating for the company in a report on Wednesday, August 10th. Brean Capital restated a “hold” rating on shares of SouFun Holdings in a report on Tuesday, August 16th. Credit Agricole SA downgraded shares of SouFun Holdings from an “underperform” rating to a “sell” rating and lowered their target price for the company from $6.00 to $4.50 in a report on Friday, August 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $4.50 target price on shares of SouFun Holdings in a report on Wednesday, August 31st. Finally, TheStreet downgraded shares of SouFun Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. SouFun Holdings has a consensus rating of “Hold” and an average target price of $5.70.
Shares of SouFun Holdings (NYSE:SFUN) opened at 2.91 on Thursday. The stock has a 50 day moving average of $3.62 and a 200-day moving average of $4.68. SouFun Holdings has a one year low of $2.80 and a one year high of $7.52. The firm’s market capitalization is $1.38 billion.
SouFun Holdings (NYSE:SFUN) last released its earnings results on Thursday, August 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. SouFun Holdings had a negative net margin of 18.43% and a negative return on equity of 36.04%. The firm earned $287 million during the quarter, compared to the consensus estimate of $269.76 million. During the same period in the previous year, the firm earned $0.04 earnings per share. SouFun Holdings’s revenue was up 34.2% compared to the same quarter last year. On average, equities analysts anticipate that SouFun Holdings will post ($0.36) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its position in SouFun Holdings by 141.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,308,148 shares of the company’s stock worth $16,640,000 after buying an additional 1,939,201 shares during the last quarter. State Street Corp boosted its position in SouFun Holdings by 84.7% in the second quarter. State Street Corp now owns 3,905,360 shares of the company’s stock worth $19,643,000 after buying an additional 1,791,212 shares during the last quarter. BlackRock Fund Advisors boosted its position in SouFun Holdings by 96.3% in the second quarter. BlackRock Fund Advisors now owns 3,358,738 shares of the company’s stock worth $16,894,000 after buying an additional 1,647,933 shares during the last quarter. Hillhouse Capital Management Ltd. purchased a new position in SouFun Holdings during the third quarter worth approximately $6,735,000. Finally, BlackRock Group LTD boosted its position in SouFun Holdings by 104.0% in the second quarter. BlackRock Group LTD now owns 2,914,989 shares of the company’s stock worth $14,662,000 after buying an additional 1,485,886 shares during the last quarter. Institutional investors own 50.06% of the company’s stock.
About SouFun Holdings
Fang Holdings Limited, formerly SouFun Holdings Limited, operates as a real estate Internet portal in China. The Company’s Websites and mobile applications support active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China.
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