Baidu Inc (BIDU) Expected to Announce Quarterly Sales of $4.06 Billion

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Wall Street analysts forecast that Baidu Inc (NASDAQ:BIDU) will announce $4.06 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Baidu’s earnings, with the lowest sales estimate coming in at $4.05 billion and the highest estimate coming in at $4.09 billion. Baidu reported sales of $3.08 billion during the same quarter last year, which would suggest a positive year over year growth rate of 31.8%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 26th.

According to Zacks, analysts expect that Baidu will report full-year sales of $16.37 billion for the current financial year, with estimates ranging from $16.17 billion to $16.67 billion. For the next fiscal year, analysts anticipate that the company will post sales of $19.77 billion per share, with estimates ranging from $19.34 billion to $20.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Baidu.

BIDU has been the subject of a number of recent research reports. BidaskClub lowered Baidu from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. Citigroup raised Baidu from a “neutral” rating to a “buy” rating and set a $307.00 target price for the company in a research note on Friday, April 27th. KeyCorp initiated coverage on Baidu in a research note on Thursday, April 5th. They issued a “sector weight” rating for the company. ValuEngine raised Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Barclays set a $275.00 target price on Baidu and gave the company a “hold” rating in a research note on Sunday, April 29th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Baidu currently has a consensus rating of “Buy” and a consensus target price of $281.40.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Baidu by 8,004.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 599,337 shares of the information services provider’s stock worth $140,371,000 after acquiring an additional 591,942 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in shares of Baidu by 174.8% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 500,450 shares of the information services provider’s stock worth $117,210,000 after acquiring an additional 318,310 shares during the period. Legal & General Group Plc grew its holdings in shares of Baidu by 23.0% during the 1st quarter. Legal & General Group Plc now owns 1,310,215 shares of the information services provider’s stock worth $292,427,000 after acquiring an additional 245,039 shares during the period. Myriad Asset Management Ltd. purchased a new position in shares of Baidu during the 1st quarter worth approximately $51,546,000. Finally, OppenheimerFunds Inc. grew its holdings in shares of Baidu by 8.8% during the 4th quarter. OppenheimerFunds Inc. now owns 2,529,237 shares of the information services provider’s stock worth $592,372,000 after acquiring an additional 204,004 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.

Shares of Baidu traded down $1.50, reaching $259.00, during midday trading on Monday, according to MarketBeat.com. The company had a trading volume of 3,026,488 shares, compared to its average volume of 3,681,491. Baidu has a one year low of $175.10 and a one year high of $284.22. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The firm has a market cap of $90.33 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.41 and a beta of 1.83.

About Baidu

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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Earnings History and Estimates for Baidu (NASDAQ:BIDU)

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