Q1 Preview: Baidu (BIDU) Analysts Bullish Despite Recent Downside in Stock

April 24, 2012 3:45 PM EDT
Get Alerts BIDU Hot Sheet
Price: $176.96 +0.27%

Rating Summary:
    17 Buy, 12 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Shares of Baidu (Nasdaq: BIDU) are underperforming the broader stock market handily Tuesday afternoon ahead of the company's first-quarter earnings report. The stock last traded at $135.90, down 2.7 percent for the session.

Results are expected out right around 4:30pm ET this afternoon. The Street is currently looking for quarterly EPS of 84 cents on sales of $677.37 million. Baidu reported earnings of 47 cents per share during the same quarter last year and earnings of 95 cents per share in the fourth quarter of 2011.

Data from StreetInsider.com's Earnings History page shows Baidu has beat the Street's estimates by nearly 8 percent over the last six quarters.

Baidu shares are up nearly 17 percent so far in 2012, but down about 11 percent from the recent highs set on April 13th.

Bloomberg data shows 23 analyst firms rate Baidu shares a Buy, five rate the stock a Hold, and none suggest selling the stock ahead of results.

An analyst at Deutsche Bank maintained a Buy rating ahead of the company's quarterly results. The firm's "channel checks suggest larger accounts have been increasing search ad spend with Baidu. In China's under-penetrated search ad market, Baidu should still be able to maintain strong revenue growth by encouraging larger accounts to shift ad spend from offline media to search. We believe search ads' performance-based nature will render Baidu more resilient than most of other digital ad platforms in 2012."

Tune into our Earnings category to get all the earnings news in real time within seconds of the release.

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