Several other brokerages also recently weighed in on BIDU. Benchmark restated a “buy” rating and set a $245.00 price target (down from $260.00) on shares of Baidu in a report on Friday, February 22nd. ValuEngine downgraded Baidu from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. Barclays reduced their price target on Baidu from $210.00 to $200.00 and set an “equal weight” rating for the company in a report on Monday, February 25th. Zacks Investment Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 26th. Finally, Daiwa Capital Markets set a $215.00 price target on Baidu and gave the company a “buy” rating in a report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Baidu currently has a consensus rating of “Hold” and a consensus target price of $191.69.
Shares of Baidu stock opened at $113.09 on Tuesday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $40.30 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 6.27 and a beta of 1.69. Baidu has a 12 month low of $106.80 and a 12 month high of $274.00.
Baidu announced that its board has approved a stock repurchase program on Thursday, May 16th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Norges Bank bought a new stake in Baidu in the 4th quarter worth about $526,416,000. Harris Associates L P increased its holdings in Baidu by 49.6% in the 4th quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock worth $500,422,000 after buying an additional 1,046,123 shares in the last quarter. BlackRock Inc. increased its holdings in Baidu by 4.3% in the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock worth $2,602,096,000 after buying an additional 653,684 shares in the last quarter. Bank of Montreal Can increased its holdings in Baidu by 219.8% in the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after buying an additional 544,799 shares in the last quarter. Finally, Investec Asset Management LTD increased its holdings in Baidu by 23.4% in the 4th quarter. Investec Asset Management LTD now owns 2,551,426 shares of the information services provider’s stock worth $404,656,000 after buying an additional 484,147 shares in the last quarter. Institutional investors own 59.78% 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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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