Cango Inc – (CANG) Given Average Rating of “Strong Buy” by Analysts
Shares of Cango Inc – (NYSE:CANG) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12 month consensus price objective of $12.90 for the company and are forecasting that the company will post $0.16 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Cango an industry rank of 100 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research raised Cango from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd.
Shares of NYSE:CANG traded up $0.01 during midday trading on Friday, reaching $5.66. The company had a trading volume of 5,090 shares, compared to its average volume of 3,965. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.09. Cango has a 1-year low of $5.65 and a 1-year high of $13.90. The firm has a market capitalization of $855.82 million and a price-to-earnings ratio of 18.27.
Cango (NYSE:CANG) last released its quarterly earnings results on Wednesday, March 27th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.14). The company had revenue of $46.71 million during the quarter. Cango had a net margin of 27.82% and a return on equity of 14.26%. Equities analysts predict that Cango will post 1.04 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, May 9th.
Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.
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