$579.09 Million in Sales Expected for SINA Corp (SINA) This Quarter

Brokerages forecast that SINA Corp (NASDAQ:SINA) will report $579.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SINA’s earnings, with the highest sales estimate coming in at $584.80 million and the lowest estimate coming in at $573.38 million. SINA reported sales of $503.74 million in the same quarter last year, which would suggest a positive year over year growth rate of 15%. The company is scheduled to report its next earnings results on Tuesday, February 12th.

According to Zacks, analysts expect that SINA will report full-year sales of $2.12 billion for the current year, with estimates ranging from $2.11 billion to $2.12 billion. For the next year, analysts expect that the company will post sales of $2.55 billion, with estimates ranging from $2.53 billion to $2.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow SINA.

SINA (NASDAQ:SINA) last issued its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. The firm had revenue of $557.20 million during the quarter, compared to analysts’ expectations of $561.76 million. SINA had a net margin of 7.58% and a return on equity of 4.22%. The business’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.

A number of brokerages have recently issued reports on SINA. ValuEngine upgraded shares of SINA from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Benchmark reduced their price objective on shares of SINA from $119.00 to $96.00 and set a “buy” rating for the company in a report on Monday, November 5th. JPMorgan Chase & Co. began coverage on shares of SINA in a report on Wednesday, August 29th. They set an “overweight” rating and a $150.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and set a $89.00 price objective on shares of SINA in a report on Tuesday, November 20th. Finally, Zacks Investment Research cut shares of SINA from a “hold” rating to a “strong sell” rating in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. SINA presently has a consensus rating of “Hold” and a consensus price target of $111.40.

Shares of NASDAQ SINA traded down $2.21 during mid-day trading on Wednesday, reaching $56.60. 419,533 shares of the company’s stock traded hands, compared to its average volume of 689,918. The stock has a market capitalization of $4.26 billion, a P/E ratio of 27.08 and a beta of 1.04. SINA has a 1-year low of $56.67 and a 1-year high of $124.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.99 and a quick ratio of 2.99.

A number of institutional investors have recently added to or reduced their stakes in SINA. Bank of Montreal Can purchased a new position in SINA during the second quarter worth about $406,000. Aviva PLC raised its position in SINA by 15.6% in the second quarter. Aviva PLC now owns 16,300 shares of the technology company’s stock worth $1,380,000 after acquiring an additional 2,200 shares during the period. First Trust Advisors LP raised its position in SINA by 8.1% in the second quarter. First Trust Advisors LP now owns 30,589 shares of the technology company’s stock worth $2,591,000 after acquiring an additional 2,281 shares during the period. Boston Partners bought a new stake in SINA in the second quarter worth about $1,913,000. Finally, Engineers Gate Manager LP bought a new stake in SINA in the second quarter worth about $1,278,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

SINA Company Profile

SINA Corporation, through its subsidiaries, operates as an online media company in the People's Republic of China. It operates SINA.com, an online brand advertising portal that provides region-focused format and content, including multimedia news; business news coverage and personal finance columns; sporting events news; automobile-related news; entertainment news and events; technology updates; interactive video products, such as news, sports, and entertainment; and education, digital, fashion, luxury, health, collectibles, travel, and other interest-based channels.

See Also: Debt-To-Equity Ratio

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Earnings History and Estimates for SINA (NASDAQ:SINA)

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