Baidu Inc (NASDAQ:BIDU) to Post Q3 2019 Earnings of $1.35 Per Share, Oppenheimer Forecasts

Baidu Inc (NASDAQ:BIDU) – Research analysts at Oppenheimer lifted their Q3 2019 earnings per share estimates for Baidu in a research note issued on Sunday, June 23rd, Zacks Investment Research reports. Oppenheimer analyst J. Helfstein now anticipates that the information services provider will post earnings per share of $1.35 for the quarter, up from their previous estimate of $1.28. Oppenheimer has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Baidu’s Q4 2019 earnings at $0.89 EPS, FY2019 earnings at $2.70 EPS and FY2020 earnings at $4.31 EPS.

Several other equities analysts have also recently issued reports on the stock. Deutsche Bank upped their target price on shares of Walmart from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Mizuho upped their target price on shares of Bausch Health Companies from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. CLSA set a $138.00 target price on shares of Baidu and gave the company a “buy” rating in a research note on Monday, July 8th. Morgan Stanley set a $196.00 target price on shares of Alibaba Group and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, ValuEngine cut shares of Zymeworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Baidu currently has an average rating of “Hold” and an average price target of $178.17.

Baidu stock traded down $1.79 during mid-day trading on Wednesday, reaching $111.79. The stock had a trading volume of 3,828,372 shares, compared to its average volume of 3,605,325. The firm has a market cap of $39.62 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 6.16 and a beta of 1.64. The company’s 50-day moving average price is $114.22. Baidu has a one year low of $106.80 and a one year high of $267.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76.

Baidu announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NuWave Investment Management LLC grew its holdings in Baidu by 152.9% during the 2nd quarter. NuWave Investment Management LLC now owns 11,171 shares of the information services provider’s stock valued at $1,311,000 after buying an additional 6,753 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in Baidu by 34.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 994 shares of the information services provider’s stock valued at $117,000 after buying an additional 252 shares in the last quarter. Callahan Advisors LLC grew its holdings in Baidu by 1.9% during the 2nd quarter. Callahan Advisors LLC now owns 7,367 shares of the information services provider’s stock valued at $865,000 after buying an additional 135 shares in the last quarter. NEXT Financial Group Inc grew its holdings in Baidu by 280.9% during the 2nd quarter. NEXT Financial Group Inc now owns 739 shares of the information services provider’s stock valued at $87,000 after buying an additional 545 shares in the last quarter. Finally, Cardan Capital Partners LLC grew its holdings in Baidu by 3.8% during the 2nd quarter. Cardan Capital Partners LLC now owns 9,510 shares of the information services provider’s stock valued at $1,116,000 after buying an additional 344 shares in the last quarter. 59.32% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Baidu (NASDAQ:BIDU)

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