Baidu Inc (NASDAQ:BIDU) – Analysts at KeyCorp raised their Q2 2019 EPS estimates for shares of Baidu in a research report issued to clients and investors on Tuesday, July 9th. KeyCorp analyst H. Chung now forecasts that the information services provider will post earnings of $0.37 per share for the quarter, up from their prior estimate of $0.17. KeyCorp currently has a “Overweight” rating and a $160.00 price target on the stock. KeyCorp also issued estimates for Baidu’s Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.03 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.97 EPS, Q3 2020 earnings at $1.30 EPS, Q4 2020 earnings at $1.30 EPS and FY2020 earnings at $4.25 EPS.
A number of other equities research analysts also recently commented on BIDU. Oppenheimer set a $5.00 price objective on VolitionRX and gave the company a “buy” rating in a report on Wednesday, April 10th. Credit Suisse Group set a $221.00 target price on Baidu and gave the company a “buy” rating in a research note on Wednesday, April 10th. Nomura decreased their target price on Baidu from $181.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, May 20th. Morgan Stanley set a $196.00 target price on Alibaba Group and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, CLSA set a $138.00 target price on Baidu and gave the company a “buy” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $178.17.
Shares of BIDU opened at $114.90 on Friday. The company has a fifty day simple moving average of $114.22. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a 52-week low of $106.80 and a 52-week high of $274.00. The company has a market cap of $40.09 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 6.19 and a beta of 1.64.
Institutional investors have recently bought and sold shares of the stock. Semmax Financial Advisors Inc. purchased a new position in Baidu in the fourth quarter valued at approximately $33,000. American Beacon Advisors Inc. lifted its stake in Baidu by 71.2% in the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 84 shares during the last quarter. Executive Wealth Management LLC purchased a new position in Baidu in the fourth quarter valued at approximately $45,000. Cullen Frost Bankers Inc. purchased a new position in Baidu in the first quarter valued at approximately $45,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Baidu by 4,837.5% in the first quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 387 shares during the last quarter. Institutional investors and hedge funds own 59.51% of the company’s stock.
Baidu declared that its board has approved a stock repurchase plan on Thursday, May 16th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the information services provider to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
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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