SINA (SINA) Issues Quarterly Earnings Results, Beats Expectations By $0.29 EPS

SINA (NASDAQ:SINA) released its quarterly earnings results on Thursday. The technology company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.29, RTT News reports. The business had revenue of $475.10 million during the quarter, compared to analysts’ expectations of $477.57 million. SINA had a return on equity of 3.39% and a net margin of 5.96%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS.

SINA stock opened at $40.04 on Friday. SINA has a one year low of $40.00 and a one year high of $96.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.91 and a current ratio of 2.91. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 23.55 and a beta of 1.08.

Several analysts recently weighed in on the company. Benchmark dropped their price target on SINA from $108.00 to $78.00 and set a “buy” rating for the company in a report on Friday. Macquarie lowered SINA from an “outperform” rating to a “neutral” rating and set a $42.60 price objective on the stock. in a research note on Friday. BidaskClub lowered SINA from a “sell” rating to a “strong sell” rating in a research note on Friday, May 17th. Finally, Zacks Investment Research lowered SINA from a “hold” rating to a “strong sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $80.85.



A number of institutional investors have recently bought and sold shares of the business. Cerebellum GP LLC bought a new position in SINA during the 1st quarter worth $336,000. BlueMountain Capital Management LLC bought a new position in SINA during the 1st quarter worth $4,981,000. Man Group plc bought a new position in SINA during the 1st quarter worth $41,756,000. Oxford Asset Management LLP increased its stake in SINA by 53.8% during the 1st quarter. Oxford Asset Management LLP now owns 26,456 shares of the technology company’s stock worth $1,567,000 after acquiring an additional 9,258 shares during the period. Finally, Level Four Advisory Services LLC increased its stake in SINA by 16.1% during the 1st quarter. Level Four Advisory Services LLC now owns 5,970 shares of the technology company’s stock worth $354,000 after acquiring an additional 826 shares during the period. Hedge funds and other institutional investors own 61.95% of the company’s stock.

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About SINA

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.

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Earnings History for SINA (NASDAQ:SINA)

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