Sina Corporation (SINA) Posts Quarterly Earnings Results, Beats Estimates By $0.27 EPS
Sina Corporation (NASDAQ:SINA) issued its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.27, MarketWatch Earnings reports. Sina Corporation had a net margin of 18.64% and a return on equity of 6.58%. The company had revenue of $358.93 million during the quarter, compared to the consensus estimate of $344.23 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. The firm’s revenue was up 47.1% compared to the same quarter last year.
Shares of Sina Corporation (NASDAQ:SINA) traded up 0.24% on Friday, hitting $98.40. 691,266 shares of the stock were exchanged. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 32.22 and a beta of 1.24. The company has a 50 day moving average of $93.53 and a 200 day moving average of $82.83. Sina Corporation has a 52-week low of $60.46 and a 52-week high of $105.99.
Large investors have recently modified their holdings of the company. Koch Industries Inc. acquired a new position in shares of Sina Corporation during the second quarter valued at about $1,385,000. 1st Global Advisors Inc. acquired a new position in shares of Sina Corporation during the second quarter valued at about $443,000. Verition Fund Management LLC acquired a new position in shares of Sina Corporation during the second quarter valued at about $205,000. Nomura Holdings Inc. raised its position in shares of Sina Corporation by 28.1% in the second quarter. Nomura Holdings Inc. now owns 5,781 shares of the technology company’s stock valued at $491,000 after buying an additional 1,267 shares in the last quarter. Finally, Platinum Investment Management Ltd. raised its position in shares of Sina Corporation by 14.9% in the second quarter. Platinum Investment Management Ltd. now owns 3,348,101 shares of the technology company’s stock worth $284,488,000 after buying an additional 435,220 shares in the last quarter. Institutional investors and hedge funds own 66.00% of the company’s stock.
SINA has been the subject of several recent research reports. T.H. Capital increased their target price on shares of Sina Corporation from $62.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, May 12th. Jefferies Group LLC restated a “buy” rating and set a $122.00 target price on shares of Sina Corporation in a research note on Wednesday, May 17th. Stifel Nicolaus restated a “hold” rating and set a $92.00 target price (up previously from $74.00) on shares of Sina Corporation in a research note on Wednesday, May 17th. BidaskClub cut shares of Sina Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Citigroup Inc. raised their price target on shares of Sina Corporation to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $101.74.
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Sina Corporation 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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