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SEA (NYSE:SE) Downgraded to "Sell" at Zacks Investment Research

Last updated on Wednesday, July 8th, 2020 by MarketBeat

SEA (NYSE:SE) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, "Sea Limited is an internet service provider company. It offers Digital Entertainment, E-Commerce and Digital Financial Services known as Garena, Shopee and AirPay. The company operates primarily in Indonesia, Taiwan, Vietnam, Thailand, Philippines, Malaysia and Singapore. Sea Limited is based in Singapore. "

A number of other research analysts also recently issued reports on the company. Piper Sandler raised their price target on SEA from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 19th. CLSA raised shares of SEA from an "underperform" rating to an "outperform" rating and set a $74.00 price target for the company in a report on Tuesday, May 19th. Bank of America raised their target price on SEA from $69.50 to $135.00 and gave the company a "buy" rating in a report on Wednesday. Stephens began coverage on SEA in a research note on Tuesday, June 30th. They set an "overweight" rating on the stock. Finally, Stifel Nicolaus lowered shares of SEA from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $55.00 to $62.00 in a research report on Thursday, May 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of "Buy" and a consensus price target of $76.00.

SEA stock traded up $11.60 during trading on Wednesday, reaching $124.50. 5,478,283 shares of the company were exchanged, compared to its average volume of 5,423,262. The stock's 50 day simple moving average is $94.45 and its two-hundred day simple moving average is $58.75. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.67 and a quick ratio of 1.65. The company has a market capitalization of $37.42 billion, a P/E ratio of -58.73 and a beta of 1.38. SEA has a 52-week low of $26.41 and a 52-week high of $123.50.

SEA (NYSE:SE) last posted its earnings results on Monday, May 18th. The Internet company based in Singapore reported ($0.52) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.38) by ($0.14). The company had revenue of $913.90 million during the quarter, compared to analyst estimates of $890.94 million. SEA had a negative net margin of 41.46% and a negative return on equity of 83.74%. The firm's revenue for the quarter was up 57.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.64) EPS. As a group, equities analysts forecast that SEA will post -2.68 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SE. Capital World Investors bought a new position in SEA in the fourth quarter worth $759,992,000. Sands Capital Management LLC boosted its holdings in SEA by 64.8% in the first quarter. Sands Capital Management LLC now owns 23,695,875 shares of the Internet company based in Singapore's stock valued at $1,049,964,000 after acquiring an additional 9,317,825 shares during the last quarter. COMPOSITE CAPITAL MANAGEMENT HK Ltd bought a new position in shares of SEA in the 4th quarter valued at about $360,369,000. Baillie Gifford & Co. grew its holdings in SEA by 311.6% during the 1st quarter. Baillie Gifford & Co. now owns 8,410,972 shares of the Internet company based in Singapore's stock worth $372,690,000 after acquiring an additional 6,367,326 shares during the period. Finally, Norges Bank acquired a new stake in shares of SEA during the fourth quarter worth $191,286,000. Hedge funds and other institutional investors own 68.88% of the company's stock.

SEA Company Profile

Sea Limited engages in the digital entertainment, e-commerce, and digital financial service businesses in Taiwan, Thailand, Vietnam, Indonesia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, and eSports operations; and access to other entertainment content, such as live streaming of online gameplay and social features.

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