Citigroup Inc. Begins Coverage on Sina Corp. (SINA)
Posted by Jared Coughlin on Aug 5th, 2016 http://www.com-unik.info/citigroup-inc-begins-coverage-on-sina-corp-sina/
Sina Corp. logoCitigroup Inc. initiated coverage on shares of Sina Corp. (NASDAQ:SINA) in a research report issued on Friday. The firm set a “buy” rating and a $69.00 price target on the stock. Citigroup Inc.’s price objective points to a potential upside of 23.32% from the stock’s current price.
Several hedge funds have added to or reduced their stakes in SINA. First Manhattan Co. acquired a new stake in Sina Corp. during the second quarter valued at approximately $21,142,000. Norges Bank acquired a new stake in Sina Corp. during the fourth quarter valued at approximately $19,510,000. Ariose Capital Management Ltd acquired a new stake in Sina Corp. during the second quarter valued at approximately $17,320,000. Macquarie Group Ltd. increased its stake in Sina Corp. by 4.7% in the fourth quarter. Macquarie Group Ltd. now owns 3,416,015 shares of the company’s stock valued at $168,756,000 after buying an additional 153,200 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Sina Corp. during the first quarter valued at approximately $7,013,000.
Shares of Sina Corp. (NASDAQ:SINA) opened at 55.95 on Friday. The stock’s 50 day moving average is $52.27 and its 200-day moving average is $48.59. The stock has a market cap of $3.91 billion and a PE ratio of 70.73. Sina Corp. has a 12-month low of $32.61 and a 12-month high of $56.00.
Sina Corp. (NASDAQ:SINA) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. During the same quarter in the prior year, the firm posted $0.04 EPS. The business earned $198.70 million during the quarter, compared to the consensus estimate of $189.47 million. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that Sina Corp. will post $0.85 EPS for the current year.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Sina Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Brean Capital reaffirmed a “buy” rating on shares of Sina Corp. in a research report on Tuesday, June 7th. Finally, Jefferies Group raised shares of Sina Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Friday, July 22nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Sina Corp. has an average rating of “Buy” and an average target price of $54.93.
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.