Baidu, Inc. (BIDU) Expected to Announce Quarterly Sales of $3.44 Billion

Brokerages expect Baidu, Inc. (NASDAQ:BIDU) to post $3.44 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Baidu’s earnings. The highest sales estimate is $3.58 billion and the lowest is $3.26 billion. Baidu reported sales of $2.74 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.5%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, October 26th.

On average, analysts expect that Baidu will report full year sales of $3.44 billion for the current year, with estimates ranging from $12.29 billion to $13.16 billion. For the next financial year, analysts anticipate that the company will post sales of $15.26 billion per share, with estimates ranging from $14.77 billion to $16.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Baidu.

Several equities research analysts have weighed in on the stock. BidaskClub raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 price target for the company in a research report on Tuesday, September 26th. Wells Fargo & Company assumed coverage on shares of Baidu in a research report on Tuesday, September 26th. They set an “outperform” rating and a $290.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $208.00 price target on shares of Baidu in a research report on Monday, June 19th. Finally, Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and increased their price target for the company from $189.00 to $252.00 in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Baidu currently has an average rating of “Buy” and an average target price of $223.12.

Baidu (NASDAQ:BIDU) opened at 272.82 on Tuesday. Baidu has a 52 week low of $159.54 and a 52 week high of $273.07. The company has a market cap of $94.60 billion, a P/E ratio of 49.73 and a beta of 1.99. The company’s 50-day moving average is $239.51 and its 200-day moving average is $203.12.

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Several hedge funds have recently made changes to their positions in BIDU. American International Group Inc. grew its stake in shares of Baidu by 0.7% in the first quarter. American International Group Inc. now owns 15,424 shares of the information services provider’s stock worth $2,661,000 after acquiring an additional 107 shares during the period. Principal Financial Group Inc. grew its stake in shares of Baidu by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock worth $232,000 after acquiring an additional 6 shares during the period. Koch Industries Inc. grew its stake in shares of Baidu by 154.0% in the first quarter. Koch Industries Inc. now owns 3,142 shares of the information services provider’s stock worth $542,000 after acquiring an additional 1,905 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Baidu by 18.4% in the first quarter. Loomis Sayles & Co. L P now owns 16,652 shares of the information services provider’s stock worth $2,873,000 after acquiring an additional 2,590 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Baidu by 22.4% in the first quarter. Mackenzie Financial Corp now owns 373,861 shares of the information services provider’s stock worth $64,498,000 after acquiring an additional 68,494 shares during the period. Hedge funds and other institutional investors own 64.09% of the company’s stock.

About Baidu

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

Get a free copy of the Zacks research report on Baid

On average, analysts expect that Baidu will report full year sales of $3.44 billion for the current year, with estimates ranging from $12.29 billion to $13.16 billion. For the next financial year, analysts anticipate that the company will post sales of $15.26 billion per share, with estimates ranging from $14.77 billion to $16.26 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Baidu.

Several equities research analysts have weighed in on the stock. BidaskClub raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 price target for the company in a research report on Tuesday, September 26th. Wells Fargo & Company assumed coverage on shares of Baidu in a research report on Tuesday, September 26th. They set an “outperform” rating and a $290.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $208.00 price target on shares of Baidu in a research report on Monday, June 19th. Finally, Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and increased their price target for the company from $189.00 to $252.00 in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Baidu currently has an average rating of “Buy” and an average target price of $223.12.

Baidu (NASDAQ:BIDU) opened at 272.82 on Tuesday. Baidu has a 52 week low of $159.54 and a 52 week high of $273.07. The company has a market cap of $94.60 billion, a P/E ratio of 49.73 and a beta of 1.99. The company’s 50-day moving average is $239.51 and its 200-day moving average is $203.12.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/17/baidu-inc-bidu-expected-to-announce-quarterly-sales-of-3-44-billion.html.

Several hedge funds have recently made changes to their positions in BIDU. American International Group Inc. grew its stake in shares of Baidu by 0.7% in the first quarter. American International Group Inc. now owns 15,424 shares of the information services provider’s stock worth $2,661,000 after acquiring an additional 107 shares during the period. Principal Financial Group Inc. grew its stake in shares of Baidu by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,346 shares of the information services provider’s stock worth $232,000 after acquiring an additional 6 shares during the period. Koch Industries Inc. grew its stake in shares of Baidu by 154.0% in the first quarter. Koch Industries Inc. now owns 3,142 shares of the information services provider’s stock worth $542,000 after acquiring an additional 1,905 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Baidu by 18.4% in the first quarter. Loomis Sayles & Co. L P now owns 16,652 shares of the information services provider’s stock worth $2,873,000 after acquiring an additional 2,590 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Baidu by 22.4% in the first quarter. Mackenzie Financial Corp now owns 373,861 shares of the information services provider’s stock worth $64,498,000 after acquiring an additional 68,494 shares during the period. Hedge funds and other institutional investors own 64.09% of the company’s stock.

About Baidu

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

Get a free copy of the Zacks research report on Baidu (BIDU)

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Earnings History and Estimates for Baidu (NASDAQ:BIDU)

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