Equities research analysts expect Baidu Inc (NASDAQ:BIDU) to announce earnings of $2.57 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Baidu’s earnings. The lowest EPS estimate is $2.13 and the highest is $2.91. Baidu posted earnings per share of $3.89 in the same quarter last year, which indicates a negative year-over-year growth rate of 33.9%. The business is expected to announce its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Baidu will report full-year earnings of $10.70 per share for the current year, with EPS estimates ranging from $10.19 to $11.51. For the next financial year, analysts forecast that the business will report earnings of $11.66 per share, with EPS estimates ranging from $10.99 to $12.71. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Baidu.
Several equities research analysts have recently commented on BIDU shares. Credit Suisse Group upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 price target for the company in a report on Monday, July 9th. Susquehanna Bancshares started coverage on shares of Baidu in a report on Friday, September 7th. They issued a “positive” rating and a $325.00 price target for the company. BidaskClub lowered shares of Baidu from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. ValuEngine lowered shares of Baidu from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, Deutsche Bank set a $337.00 price target on shares of Baidu and gave the company a “buy” rating in a report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Baidu presently has an average rating of “Buy” and a consensus price target of $290.64.
Shares of NASDAQ:BIDU traded up $4.27 during trading hours on Monday, hitting $196.19. The company’s stock had a trading volume of 2,532,907 shares, compared to its average volume of 3,291,243. Baidu has a 52 week low of $189.00 and a 52 week high of $284.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market cap of $66.55 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.07 and a beta of 1.49.
Baidu declared that its board has approved a stock repurchase program on Wednesday, June 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Baidu by 2.1% during the 2nd quarter. BlackRock Inc. now owns 14,125,549 shares of the information services provider’s stock worth $3,432,507,000 after acquiring an additional 284,768 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Baidu by 51.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock worth $708,826,000 after acquiring an additional 990,424 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Baidu by 3.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,654,224 shares of the information services provider’s stock worth $644,976,000 after acquiring an additional 85,932 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Baidu by 14.4% during the 2nd quarter. Bank of America Corp DE now owns 1,560,081 shares of the information services provider’s stock worth $379,099,000 after acquiring an additional 196,031 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Baidu by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 1,361,263 shares of the information services provider’s stock worth $330,787,000 after acquiring an additional 51,048 shares in the last quarter. Hedge funds and other institutional investors own 60.89% of the company’s stock.
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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