KeyCorp reiterated their overweight rating on shares of Baidu (NASDAQ:BIDU) in a research note issued to investors on Wednesday, The Fly reports. They currently have a $160.00 price target on the information services provider’s stock, down from their prior 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.
BIDU has been the subject of a number of other reports. Macquarie set a $131.00 target price on Baidu and gave the company a hold rating in a research note on Thursday, July 4th. Oppenheimer set a $5.00 price objective on VolitionRX and gave the stock a buy rating in a research report on Wednesday, April 10th. Benchmark reduced their price objective on Baidu from $245.00 to $180.00 and set a buy rating for the company in a research report on Friday, May 17th. UBS Group reiterated a hold rating and set a $145.00 price objective on shares of Baidu in a research report on Friday, July 5th. Finally, China Renaissance Securities reiterated a hold rating on shares of Baidu in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. Baidu currently has an average rating of Hold and a consensus target price of $178.17.
Shares of BIDU stock 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 company has a 50 day moving average of $114.22. Baidu has a 52 week low of $106.80 and a 52 week high of $274.00. The firm has a market capitalization of $40.14 billion, a P/E ratio of 18.38, a P/E/G ratio of 6.19 and a beta of 1.64.
Baidu announced that its board has authorized a share 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 purchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Securities Inc. increased its stake in Baidu by 20.6% in the fourth quarter. Comerica Securities Inc. now owns 2,888 shares of the information services provider’s stock worth $458,000 after purchasing an additional 493 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Baidu by 15.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,631 shares of the information services provider’s stock worth $2,796,000 after purchasing an additional 2,397 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Baidu by 89.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,654 shares of the information services provider’s stock worth $3,752,000 after purchasing an additional 11,171 shares during the period. Dimensional Fund Advisors LP increased its stake in Baidu by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 628,173 shares of the information services provider’s stock worth $99,782,000 after purchasing an additional 12,720 shares during the period. Finally, Stifel Financial Corp increased its stake in Baidu by 16.3% in the fourth quarter. Stifel Financial Corp now owns 21,926 shares of the information services provider’s stock worth $3,465,000 after purchasing an additional 3,070 shares during the period. 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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