Baidu Inc (NASDAQ:BIDU) – Equities research analysts at KeyCorp dropped their Q3 2018 earnings estimates for shares of Baidu in a report issued on Wednesday, October 3rd. KeyCorp analyst H. Chung now forecasts that the information services provider will post earnings of $1.65 per share for the quarter, down from their previous estimate of $1.87. KeyCorp currently has a “Buy” rating and a $297.00 target price on the stock. KeyCorp also issued estimates for Baidu’s Q4 2018 earnings at $1.78 EPS, Q1 2019 earnings at $1.58 EPS, Q2 2019 earnings at $2.19 EPS, Q3 2019 earnings at $2.57 EPS, Q4 2019 earnings at $2.71 EPS and FY2019 earnings at $9.06 EPS.
Several other research firms have also recently issued reports on BIDU. Deutsche Bank set a $337.00 price target on shares of Baidu and gave the stock a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. BidaskClub cut shares of Baidu from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. BNP Paribas initiated coverage on shares of Baidu in a report on Thursday, June 14th. They set a “buy” rating for the company. Finally, Credit Suisse Group set a $313.00 price target on shares of Baidu and gave the stock a “buy” rating in a report on Monday, October 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Baidu has a consensus rating of “Buy” and an average target price of $296.39.
NASDAQ BIDU opened at $205.62 on Monday. The stock has a market cap of $79.30 billion, a P/E ratio of 25.51, a PEG ratio of 0.97 and a beta of 1.49. Baidu has a 52-week low of $202.21 and a 52-week high of $284.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19.
A number of institutional investors have recently modified their holdings of the business. CENTRAL TRUST Co increased its holdings in Baidu by 116.0% in the third quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock valued at $170,000 after buying an additional 398 shares in the last quarter. United Services Automobile Association increased its holdings in Baidu by 7.7% in the second quarter. United Services Automobile Association now owns 276,428 shares of the information services provider’s stock valued at $67,172,000 after buying an additional 19,720 shares in the last quarter. FMR LLC increased its holdings in Baidu by 3,949.8% in the second quarter. FMR LLC now owns 621,403 shares of the information services provider’s stock valued at $151,001,000 after buying an additional 606,059 shares in the last quarter. HRT Financial LLC increased its holdings in Baidu by 34.1% in the second quarter. HRT Financial LLC now owns 2,119 shares of the information services provider’s stock valued at $514,000 after buying an additional 539 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV purchased a new position in Baidu in the second quarter valued at about $3,069,000. 61.32% of the stock is owned by institutional investors.
Baidu declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are typically an indication 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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