Macquarie Lowers SINA (SINA) to Neutral

Share on StockTwits

SINA (NASDAQ:SINA) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $38.00 target price on the technology company’s stock. Macquarie’s target price suggests a potential downside of 5.09% from the stock’s previous close.

Several other equities analysts also recently issued reports on SINA. Zacks Investment Research raised shares of SINA from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a report on Friday, February 1st. Credit Suisse Group started coverage on shares of SINA in a report on Monday, February 4th. They issued a “neutral” rating and a $58.50 price objective for the company. BidaskClub downgraded shares of SINA from a “sell” rating to a “strong sell” rating in a report on Friday, February 8th. Benchmark upped their price objective on shares of SINA from $96.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank downgraded shares of SINA from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.73.

Shares of SINA opened at $40.04 on Friday. SINA has a 1 year low of $40.00 and a 1 year high of $96.71. The firm has a market cap of $2.86 billion, a PE ratio of 23.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.91 and a quick ratio of 2.91.

SINA (NASDAQ:SINA) last announced its quarterly earnings results on Thursday, May 23rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.29. SINA had a net margin of 6.06% and a return on equity of 3.53%. The company had revenue of $475.10 million during the quarter, compared to the consensus estimate of $477.57 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that SINA will post 2.47 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of SINA. Lindbrook Capital LLC raised its position in SINA by 66.8% in the first quarter. Lindbrook Capital LLC now owns 482 shares of the technology company’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in SINA by 100.0% in the first quarter. NumerixS Investment Technologies Inc now owns 600 shares of the technology company’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. AlphaOne Investment Services LLC bought a new stake in SINA in the fourth quarter worth about $37,000. Cresset Asset Management LLC bought a new stake in SINA in the first quarter worth about $57,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in SINA by 110.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,276 shares of the technology company’s stock worth $76,000 after acquiring an additional 670 shares in the last quarter. 62.07% of the stock is owned by institutional investors and hedge funds.

SINA Company Profile

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.

See Also: What is systematic risk?

Analyst Recommendations for SINA (NASDAQ:SINA)

Receive News & Ratings for SINA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SINA and related companies with MarketBeat.com's FREE daily email newsletter.