Sina Corporation (SINA)

Sina Corporation (SINA)

Postby winston » Tue Nov 29, 2011 9:20 pm

Chinese Internet darling Sina sits at a new 52-week low¦ down more than 50% from its 2011 high.
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Re: Sina Corporation (SINA)

Postby winston » Wed Feb 29, 2012 4:06 pm

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Sina (SINA US, Buy) - Weibo costs to re-accelerate( USD62.95 / PT: USD100.00 )
Cutting price target
Action: Reiterate Buy

Sina’s 4Q11 EPS was below our estimate due to significantly lower-than-expected passive income, and the company guided soft ads revenue for 1Q12F.

We still have a positive bias on Sina as Weibo topped 300mn users recently, although the near-term profit will likely be affected owing to Sina’s accelerated spending related to Weibo.

We reaffirm our Buy rating but reduce our target price to USD100 due to soft ad growth and looming real name registration risks as we are getting closer to the deadline.

Source: Nomura
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Re: Sina Corporation (SINA)

Postby winston » Fri Mar 16, 2012 7:58 am

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China's new microblogging rules to make Weibo more attractive By Melanie Lee

SHANGHAI (Reuters) - New real-identity rules to be imposed on China's Weibo are likely to make the country's most popular microblogging platform more alluring to advertisers, as Sina Corp seeks to start generating revenue from its product later this year.

http://www.reuters.com/article/2012/03/ ... nologyNews
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Re: Sina Corporation (SINA)

Postby winston » Sat Sep 03, 2016 5:33 pm

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Internet Stocks to Buy: Sina (SINA)

by Maher Najm

Sina Corp (NASDAQ:SINA) is a major internet player in China. It is kind of like the MSN of China.

Not only does it have its own web and mobile presence but it also owns and operates one of the social network juggernauts of China, Weibo.

This would be the equivalent of a parent company owning Facebook. WB is the big engine of growth for SINA, but it is only one of its parts.

Because China’s internet businesses have yet to work their way through the initial stages of start-ups, fads and blue chips. The space is very dynamic, but it is maturing. And SINA is becoming a significant player in the space.

Now these Chinese firms largely only operate in the Chinese market, but that market is the biggest single marketplace on the planet.

This is a great way to buy into WB’s meteoric rise while having some diversification for safety.

Source: Investor Place
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Re: Sina Corporation (SINA)

Postby winston » Thu Sep 08, 2016 10:24 pm

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Sept 6, 2016

SINA

It may be Chinese, but SINA Corp. (NASDAQ: SINA) saw a gain of almost 4% on Friday’s.

The current driving force here is that SINA has authorized the distribution of Weibo shares on a pro rata basis, and the company is decreasing its stake to 51% from 54%.

SINA is valued at close to 80 times expected year’s earnings expectations.

SINA shares hit a new 52-week high of $85.24 Tuesday morning. The consensus price target is $78.08, and the 52-week low is $36.21.

Source: 24 7 Wall St
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Re: Sina Corporation (SINA)

Postby winston » Thu Sep 08, 2016 10:32 pm

Can SINA Keep Going After Last Week's 11% Pop?

A distribution of shares of Weibo to SINA investors got the market excited about the Chinese internet portal. The stock went on to hit a new two-year high.

by Rick Munarriz

Cutting loose with a chunk of one of its most valuable assets helped push shares of SINA (NASDAQ:SINA) higher last week.

The Chinese internet portal climbed 11% on the week, after announcing a plan to distribute shares of its fast-growing microblogging site, Weibo (NASDAQ:WB).

SINA will distribute a single share of Weibo next month for every 10 shares of SINA. The move will reduce SINA's equity stake in Weibo from 54% to 51%, but it will continue to own a dominant 75% of Weibo's voting power.

Weibo stock also moved slightly higher on the week. The social-media darling saw its shares climb 2%, even if there are concerns that SINA shareholders will flood the market next month after receiving their Weibo shares. That's something that could happen. SINA shareholders can simply treat the distribution like a dividend that can be cashed out.

On a roll

Viewing the partial distribution of Weibo as a dividend isn't enough to explain the 11% pop in SINA stock. The value of that single share of Weibo is actually less than 7% of the value of 10 shares of SINA.

It's also important to point out that SINA shares have closed higher in nine consecutive trading days -- up 16% in that time -- so it's not as if this was the only thing pushing the stock higher.

There's an impressive streak of positive momentum happening here, and that can string us all the way to earlier in August, when it posted strong financial results for the second quarter.

Revenue climbed 14% since the prior year, and adjusted earnings soared nearly fivefold. The stock landed well ahead of Wall Street's top- and bottom-line targets, but that's not much of a surprise. SINA has consistently beaten analyst profit expectations for more than a year.

Too many eggs in one basket

SINA's namesake portal isn't holding up as well as its results seem to suggest. There's a lot riding on Weibo.

SINA posted a 16% year-over-year spike in online advertising during the second quarter, but that was a $38.4 million increase in Weibo advertising helping to bail out a $9.7 million decline in its portal advertising business.

Weibo has been a big winner since going public at $17 two years ago. The stock has gone on to nearly triple in that time. It hasn't been a disappointment. Weibo had 130 million monthly active users when it went public. The tally is up to 282 million now.

SINA is unlikely to unload all of its shares of Weibo -- it's too important -- but it can keep giving investors more shares in the future without relinquishing its controlling voting stake in the dot-com speedster. Weibo's success is a big reason for SINA's success, but it's not the only reason for the stock's recent good fortune.

Source: Motley Fool
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Re: Sina Corporation (SINA)

Postby winston » Tue Nov 22, 2016 11:43 am

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Sina Corp’s Q3 Beats Estimates (SINA, WB)

By Shoshanna Delventhal

Chinese internet giant Sina Corp. (SINA) announced third quarter financial results on Monday after market close.

Sina shares are up approximately 2.4% at a price of $68.90 in after-hours trading on Monday after earnings beat the Street’s consensus estimates.

The Beijing-based corporation reported third quarter net income of $146.5 million, reflected on a per share basis of $1.90. Non-GAAP EPS came to $0.56 per share, compared to analysts’ projected $0.35 per share and last year’s posted $0.39 EPS.

The leading online media company in China secured revenue of $274.9 million in revenue for the quarter, topping analysts’ consensus estimate of $265.5 million.

Quarterly net revenues reflected a 21% increase year-over-year (YOY), while non-GAAP net revenues rose 22% YOY to $272.3 million.

Source: Investopedia

http://www.investopedia.com/news/sina-c ... z4QhnyB3Vm
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Re: Sina Corporation (SINA)

Postby winston » Wed Nov 23, 2016 7:34 pm

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Why Sina Has 56% Upside

HSBC says the Chinese internet stock is cheap given its 50% stake in micro-blogging site, Weibo, is worth 96% of its current share price.


Sina Corp. (SINA) (USD74, Nov.22, 2016)

HSBC maintained its Buy on the Chinese internet company and raised its target price to USD105 a share (from USD97), implying 56% upside.

Looking to maximize shareholder value: We think SINA continues to be attractive on a sum-of-the-parts basis as its 50% equity stake in Weibo (WB, USD45.61, Buy) is worth USD65 a share at market value, or 96% of its current share price.

Management issued an in-kind stock dividend for Weibo shares to SINA shareholders in August. Further, it disposed of its entire stake in Today’s Headlines, a top news app in China, recognizing a USD134 million gain.

We point out that SINA had USD2.2 billion of cash as of September (USD480 million attributable to Weibo). It currently has a USD500m buyback authorization.

On its earnings call, the CEO said he is open to further unlocking value in the company. Separately, he said Alibaba remains a “very very important strategic partner” for Weibo, working closely on sales & marketing, advertising, data sharing and payment.

Alibaba currently owns 31% of Weibo and we expect more cooperation with Weibo (large-scale social platform) to drive its social e-commerce strategy.

Solid 3Q as Weibo momentum continues and portal recovering: Total revenue grew 21% year-on-year to USD275 million, 1% above our estimate, driven by other revenue.

Operating profit margin (OPM) increased to 21% versus 13% a year ago, due to margin expansion at Weibo. Earnings per share was USD0.56, in line with our estimate.

Weibo grew revenue by 42% year-on-year
to USD177 million and net income grew 147% to USD55 million. Portal ad revenue amounted to USD80 million, down 9% year-on-year, but only 4% on a constant currency basis.

Excluding revenue from Alibaba (BABA, USD93.41, Buy), accounting for 6% of its portal revenue, portal ad revenue grew 5% in constant currency, compared to 6% in 2Q.

Mobile ad revenue is driving growth, contributing 50% of total portal revenue in 3Q. SINA’s mobile news app grew its daily users by 3-4x year-on-year to nearly 12 million, boosting revenue.

The ad load on its mobile news app is 8% and pricing is more expensive than its HTML5 mobile site. Management expects to continue to review its cost structure next year, focusing on certain content, and channel costs are fixed in nature.

Estimate changes: We raise our revenue and EPS estimates due mostly to Weibo, with our Sina core business estimates changed slightly. For 2017/2018, we raise our revenue estimates by 5/4% and EPS by 8/1% in 2017/18, respectively.

Maintain Buy and raise sum-of-the-parts-based target price from USD97 to USD105 to reflect increased value in Weibo: We continued to see SINA as undervalued given the rising value from its subsidiary Weibo, the improving performance of its portal and cash and investment portfolio.

SINA is currently trading at USD68; when we back out the market price for Weibo, net cash and investments, the core business is trading at -USD25/share. We acknowledge that its portal traffic and revenue are declining but we expect revenue to return to growth in 2017, driven by mobile ads.

Source: Barron's

http://www.barrons.com/articles/why-sin ... yptr=yahoo
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Re: Sina Corporation (SINA)

Postby winston » Sat Jan 14, 2017 10:01 pm

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Chinese Stocks to Sell: Sina Corp (SINA)

Sina Corp (NASDAQ:SINA) still owns 51% of Weibo, which is China’s answer to Facebook, and I happen to love Weibo as an investment. So why is Sina in this list?

Especially since the stock went to over $84 per share as recently as October, nearly hit $80 again in November, and is now sitting near $67?

The best explanation I can give is EMC Corp.

Remember EMC? EMC, now part of Dell, makes disk subsystems for data centers. It is still big in the cloud, and it also owned 80% of VMware, which was also part of the Dell buy-out. The point is that back when both companies were publicly traded, VMware was by far the better investment.

The same is true here. It’s true that over the last year SINA is up 42%, but WB is up 156%, and as noted, SINA’s stake in WB has been cut. It could be cut further, whenever SINA decides it needs the money.

SINA itself grew about 20% year-over-year, between September of 2015 and September of 2016. It has assets of over $4.8 billion, and it has less than $800 million in debt against those assets.

Of the 17 analysts currently following the stock, 10 have it rated as a buy, and the mean estimate for 2017 earnings is $2.20 per share. The market cap is up to $4.65 billion.

So why am I telling you to avoid this stock? It’s because Elvis, in the person of 35-year old Weibo CEO Gaofei Wang, has left the building. Wang has been head of Weibo since it started. Weibo is a better investment, and you can buy Weibo on the U.S. market, so what do you want with SINA?

SINA has had two straight strong quarters, mainly due to Weibo’s success in getting social users switched to its mobile platform (sound familiar?). You must wait until March to see if that success is sustained. But even if it is, you can buy that success directly. You don’t have to be tied to the old SINA “portal” to get it.

It is possible that I’m missing something here, and that SINA has some hidden gem I don’t know about. This is what makes investment in international markets so dicey, and why I am loathe to recommend any overseas stock with a market cap under $10 billion.

But while most analysts still have this rated as a buy or an outperform, the good folks at Goldman Sachs took the stock down to a “neutral” rating at the end of November, with a price target of $50 per share, against the current price of $68.

That kind of move attracts my “spidey sense;” my instinct is that future change will be negative. Goldman doesn’t make these kinds of calls for no reason. It’s not a big move, but it’s enough when, as I say, there is a better play available.

Source: Investor Place
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Re: Sina Corporation (SINA)

Postby winston » Thu Feb 23, 2017 10:52 am

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<US Co. Results>Sina 4Q16 Net Income Up 36.9%; Sina Weibo 4Q Net Income Up 125%

Sina Corporation and Sina Weibo released the fourth quarter of 2016 (4Q16) and 2016 results.

Sina Corporation announced that in 4Q16, net income attributable to shareholders rose 36.9% yearly to US$19.92 million;

Diluted quarterly EPS amounted to US27 cents; quarterly revenue rose 22.3% yearly to US$313 million.

In 2016, net income attributable to shareholders surged 770% yearly to US$225 million; basic EPS amounted to US$3.2; revenue rose 17.1% yearly to US$1.031 billion.

Sina Weibo announced that in 4Q16, net income surged 125% yearly to US$42.97 million; basic EPS amounted to US20 cents;

Quarterly revenue rose 42.7% yearly to US$213 million. In 2016, net income attributable to shareholders soared 210% yearly to US$108 million; basic EPS amounted to US50 cents; revenue rose 37.2% yearly to US$656 million. Monthly active users (MAUs) in December 2016 grew 33% yearly to 313 million, 90% of which were mobile users.

Source: AAStocks Financial News
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