Baidu Inc (ADR) (BIDU) is Downgraded by Citigroup to Neutral

Baidu Inc (ADR) (BIDU) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Jun 13, 2016.

Many Wall Street Analysts have commented on Baidu Inc (ADR). Baidu Inc (ADR) was Upgraded by Brean Capital to ” Buy” on Apr 29, 2016.

On the company’s financial health, Baidu Inc (ADR) reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.03. The company had revenue of $2454.00 million for the quarter, compared to analysts expectations of $2431.67 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Baidu Inc (ADR) closed down -4.71 points or -2.79% at $164.28 with 24,46,845 shares getting traded on Friday. Post opening the session at $166.58, the shares hit an intraday low of $164 and an intraday high of $167.45 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Baidu Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants which include users customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website It provides Chinese-language Internet search services to enable users to find relevant information online including Web pages news images documents and multimedia files through links provided on its Websites. It designs and delivers its online marketing services primarily on its Website to its online marketing customers. As of December 31 2014 the Company had approximately 813000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China domestic companies and Chinese divisions or subsidiaries of multinational companies.

Baidu Inc (ADR)

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