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Brokerages Anticipate Baidu Inc (NASDAQ:BIDU) Will Post Quarterly Sales of $3.91 Billion

Last updated on Tuesday, October 20, 2020 | 2020 MarketBeat

Wall Street brokerages predict that Baidu Inc (NASDAQ:BIDU) will post sales of $3.91 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Baidu's earnings. The highest sales estimate is $3.93 billion and the lowest is $3.88 billion. Baidu reported sales of $3.93 billion in the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The firm is expected to report its next earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that Baidu will report full year sales of $15.09 billion for the current financial year, with estimates ranging from $14.64 billion to $15.66 billion. For the next year, analysts anticipate that the firm will report sales of $17.28 billion, with estimates ranging from $16.66 billion to $17.87 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that that provide coverage for Baidu.

BIDU has been the subject of several recent research reports. BidaskClub cut Baidu from a "sell" rating to a "strong sell" rating in a research note on Tuesday, October 13th. Bank of America decreased their price objective on Baidu from $186.00 to $175.00 and set a "buy" rating for the company in a research note on Monday, August 17th. ValuEngine cut Baidu from a "hold" rating to a "sell" rating in a research note on Thursday, July 2nd. Mizuho decreased their price objective on Baidu from $175.00 to $170.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. Finally, Zacks Investment Research upgraded Baidu from a "sell" rating to a "hold" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company's stock. The stock has a consensus rating of "Buy" and an average target price of $146.08.

Shares of BIDU opened at $129.25 on Tuesday. The stock has a 50-day simple moving average of $124.89 and a 200-day simple moving average of $116.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.85 and a current ratio of 2.85. The stock has a market capitalization of $44.70 billion, a PE ratio of 85.60, a PEG ratio of -16.34 and a beta of 1.33. Baidu has a 1 year low of $82.00 and a 1 year high of $147.38.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new position in Baidu during the second quarter worth approximately $2,622,000. Wellington Management Group LLP acquired a new position in Baidu during the first quarter worth approximately $5,041,000. Marathon Asset Management LLP increased its position in Baidu by 12.0% during the second quarter. Marathon Asset Management LLP now owns 1,675,705 shares of the information services provider's stock worth $200,897,000 after buying an additional 180,031 shares during the period. Vident Investment Advisory LLC increased its position in Baidu by 174.7% during the second quarter. Vident Investment Advisory LLC now owns 14,758 shares of the information services provider's stock worth $1,769,000 after buying an additional 9,386 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Baidu during the second quarter worth approximately $632,000. 52.21% of the stock is currently owned by institutional investors.

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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