Bitauto (BITA) Board Announces Stock Buyback Program
Bitauto (NYSE:BITA) announced that its board has authorized a stock buyback plan, which permits the company to repurchase $150.00 million in shares on Monday, March 19th, EventVestor reports. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Bitauto (BITA) traded up $0.49 during trading on Tuesday, hitting $25.30. The stock had a trading volume of 279,476 shares, compared to its average volume of 1,173,520. Bitauto has a twelve month low of $23.22 and a twelve month high of $54.42. The stock has a market capitalization of $1,755.14, a PE ratio of -7.36 and a beta of 2.87.
Bitauto (NYSE:BITA) last released its quarterly earnings results on Thursday, March 15th. The information services provider reported ($1.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($1.62). Bitauto had a negative return on equity of 8.47% and a negative net margin of 17.41%. The company had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $378.73 million. During the same quarter last year, the company earned $0.03 EPS. Bitauto’s revenue for the quarter was up 64.2% compared to the same quarter last year. equities analysts anticipate that Bitauto will post 1.13 earnings per share for the current fiscal year.
Bitauto Company Profile
Bitauto Holdings Limited provides Internet content and marketing, and transaction services for the automotive industry in the People's Republic of China. The company operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.
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