Wall Street brokerages expect Baidu Inc (NASDAQ:BIDU) to post earnings per share of $0.94 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Baidu’s earnings, with the highest EPS estimate coming in at $1.17 and the lowest estimate coming in at $0.71. Baidu reported earnings of $3.18 per share in the same quarter last year, which would indicate a negative year over year growth rate of 70.4%. The firm is expected to report its next quarterly earnings report after the market closes on Monday, August 19th.
According to Zacks, analysts expect that Baidu will report full year earnings of $4.53 per share for the current financial year, with EPS estimates ranging from $3.83 to $5.08. For the next financial year, analysts anticipate that the company will post earnings of $6.84 per share, with EPS estimates ranging from $6.64 to $7.10. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Baidu.
A number of analysts recently issued reports on the company. ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. assumed coverage on Baidu in a research note on Wednesday, July 10th. They set an “overweight” rating on the stock. UBS Group reiterated a “hold” rating and set a $145.00 price objective on shares of Baidu in a research note on Friday, July 5th. CLSA set a $138.00 target price on Baidu and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Benchmark reduced their target price on Baidu from $245.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $175.11.
Institutional investors and hedge funds have recently bought and sold shares of the company. Motco purchased a new position in shares of Baidu in the 2nd quarter worth about $28,000. Tower Research Capital LLC TRC purchased a new position in shares of Baidu in the 2nd quarter worth about $31,000. American Beacon Advisors Inc. boosted its holdings in shares of Baidu by 71.2% in the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of Baidu in the 2nd quarter worth about $33,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Baidu by 290.5% in the 2nd quarter. Lindbrook Capital LLC now owns 328 shares of the information services provider’s stock worth $38,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 59.44% of the company’s stock.
Shares of NASDAQ:BIDU traded up $2.35 during midday trading on Friday, reaching $96.70. 5,845,100 shares of the company traded hands, compared to its average volume of 3,653,388. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a 12 month low of $93.39 and a 12 month high of $234.88. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 4.79 and a beta of 1.70. The firm’s fifty day moving average price is $110.14 and its two-hundred day moving average price is $142.07.
Baidu declared that its board has initiated a share repurchase program on Thursday, May 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information services provider to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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