Brokers Set Expectations for SINA Corp’s FY2020 Earnings (SINA)

SINA Corp (NASDAQ:SINA) – Analysts at Jefferies Group issued their FY2020 earnings per share estimates for SINA in a note issued to investors on Thursday. Jefferies Group analyst anticipates that the technology company will post earnings of $6.61 per share for the year. Jefferies Group currently has a “Buy” rating and a $175.00 price target on the stock.

Several other brokerages have also commented on SINA. Zacks Investment Research upgraded shares of SINA from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. increased their price target on shares of SINA from $175.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Benchmark increased their price target on shares of SINA from $157.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, BidaskClub lowered shares of SINA from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. SINA has a consensus rating of “Buy” and an average target price of $139.00.

Shares of SINA (NASDAQ SINA) traded up $0.93 during trading on Monday, reaching $115.88. 869,600 shares of the company’s stock traded hands, compared to its average volume of 990,999. The stock has a market capitalization of $8,220.61, a price-to-earnings ratio of 55.45 and a beta of 1.03. SINA has a one year low of $68.13 and a one year high of $122.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.22 and a quick ratio of 2.68.

SINA (NASDAQ:SINA) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.29. The company had revenue of $503.70 million for the quarter, compared to analyst estimates of $482.59 million. SINA had a net margin of 9.89% and a return on equity of 3.99%. The firm’s revenue was up 62.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in shares of SINA by 38.3% during the fourth quarter. Handelsbanken Fonder AB now owns 97,500 shares of the technology company’s stock worth $9,780,000 after acquiring an additional 27,000 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of SINA by 5.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 9,621 shares of the technology company’s stock worth $965,000 after acquiring an additional 500 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of SINA by 41.7% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 18,000 shares of the technology company’s stock worth $1,806,000 after acquiring an additional 5,300 shares during the last quarter. Platinum Investment Management Ltd. grew its position in shares of SINA by 16.1% during the fourth quarter. Platinum Investment Management Ltd. now owns 3,365,882 shares of the technology company’s stock worth $337,631,000 after acquiring an additional 466,731 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of SINA by 87.0% during the fourth quarter. Verition Fund Management LLC now owns 6,333 shares of the technology company’s stock worth $635,000 after acquiring an additional 2,946 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.

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SINA 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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