Brokerages Expect China Automotive Systems, Inc. (CAAS) to Post $0.14 Earnings Per Share
Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price target of $7.50 for the company and are anticipating that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 36 out of 265 based on the ratings given to its competitors.
A number of analysts have recently weighed in on the stock. Greenridge Global upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Wednesday, April 5th. ValuEngine upgraded shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 16th. Finally, Zacks Investment Research lowered shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th.
A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in China Automotive Systems by 39.1% in the fourth quarter. Renaissance Technologies LLC now owns 583,333 shares of the auto parts company’s stock valued at $3,127,000 after buying an additional 163,910 shares in the last quarter. First Manhattan Co. raised its stake in China Automotive Systems by 41.6% in the first quarter. First Manhattan Co. now owns 41,850 shares of the auto parts company’s stock valued at $173,000 after buying an additional 12,300 shares in the last quarter. Finally, Stuyvesant Capital Management raised its stake in China Automotive Systems by 4.0% in the first quarter. Stuyvesant Capital Management now owns 41,807 shares of the auto parts company’s stock valued at $209,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 5.02% of the company’s stock.
Shares of China Automotive Systems (NASDAQ:CAAS) traded down 0.21% during midday trading on Thursday, hitting $4.81. 114,105 shares of the stock were exchanged. The stock has a market cap of $152.21 million, a price-to-earnings ratio of 6.87 and a beta of 2.18. China Automotive Systems has a 12 month low of $3.10 and a 12 month high of $7.96. The firm’s 50-day moving average is $4.86 and its 200-day moving average is $5.20.
China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings data on Thursday, May 11th. The auto parts company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $119.31 million during the quarter, compared to analyst estimates of $118.36 million. China Automotive Systems had a return on equity of 7.27% and a net margin of 4.86%. During the same quarter in the previous year, the company earned $0.18 EPS. Equities research analysts predict that China Automotive Systems will post $0.72 earnings per share for the current year.
About China Automotive Systems
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
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