KeyCorp reiterated their overweight rating on shares of Baidu (NASDAQ:BIDU) in a report released on Wednesday, The Fly reports. KeyCorp currently has a $160.00 price target on the information services provider’s stock, down from their previous price target of $179.00. KeyCorp also issued estimates for Baidu’s Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.03 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.97 EPS, Q3 2020 earnings at $1.30 EPS, Q4 2020 earnings at $1.30 EPS and FY2020 earnings at $4.25 EPS.
Other equities research analysts also recently issued research reports about the company. Credit Suisse Group set a $221.00 price target on Baidu and gave the stock a buy rating in a report on Wednesday, April 10th. Benchmark lowered their price target on Baidu from $245.00 to $180.00 and set a buy rating for the company in a report on Friday, May 17th. Barclays raised their price target on NetEase from $300.00 to $320.00 and gave the stock an overweight rating in a report on Monday, May 20th. JPMorgan Chase & Co. reissued an overweight rating on shares of in a report on Friday, June 28th. Finally, Morgan Stanley set a $196.00 price target on Alibaba Group and gave the stock a buy rating in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $178.17.
Shares of NASDAQ BIDU opened at $114.90 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76. The firm has a market capitalization of $40.14 billion, a P/E ratio of 18.38, a PEG ratio of 6.19 and a beta of 1.64. The business has a 50-day simple moving average of $114.22. Baidu has a fifty-two week low of $106.80 and a fifty-two week high of $274.00.
Baidu declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information services provider to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several large investors have recently made changes to their positions in the company. Comerica Securities Inc. increased its position in Baidu by 20.6% in the 4th quarter. Comerica Securities Inc. now owns 2,888 shares of the information services provider’s stock valued at $458,000 after acquiring an additional 493 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Baidu by 15.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 17,631 shares of the information services provider’s stock valued at $2,796,000 after purchasing an additional 2,397 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Baidu by 89.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,654 shares of the information services provider’s stock valued at $3,752,000 after purchasing an additional 11,171 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Baidu by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 628,173 shares of the information services provider’s stock valued at $99,782,000 after purchasing an additional 12,720 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Baidu by 16.3% in the 4th quarter. Stifel Financial Corp now owns 21,926 shares of the information services provider’s stock valued at $3,465,000 after purchasing an additional 3,070 shares during the last quarter. Hedge funds and other institutional investors own 59.51% of the company’s stock.
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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