$4.22 Billion in Sales Expected for Baidu Inc (BIDU) This Quarter
Equities analysts forecast that Baidu Inc (NASDAQ:BIDU) will announce sales of $4.22 billion for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Baidu’s earnings, with estimates ranging from $4.13 billion to $4.40 billion. Baidu posted sales of $3.53 billion during the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Baidu will report full-year sales of $15.64 billion for the current fiscal year, with estimates ranging from $15.11 billion to $16.19 billion. For the next financial year, analysts anticipate that the business will report sales of $18.92 billion per share, with estimates ranging from $18.02 billion to $19.95 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Baidu.
BIDU has been the subject of a number of analyst reports. BidaskClub upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. BNP Paribas began coverage on shares of Baidu in a research report on Thursday, June 14th. They issued a “buy” rating on the stock. KeyCorp set a $297.00 price target on shares of Baidu and gave the company a “buy” rating in a research report on Wednesday, August 1st. Deutsche Bank set a $337.00 price target on shares of Baidu and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $295.19.
NASDAQ BIDU traded down $0.78 during trading on Thursday, reaching $216.88. The company’s stock had a trading volume of 2,114,700 shares, compared to its average volume of 3,333,543. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $76.30 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. Baidu has a 1-year low of $207.74 and a 1-year high of $284.22.
Baidu declared that its Board of Directors has initiated a share buyback program on Wednesday, June 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to buy up to 1.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Baidu Company Profile
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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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