China Automotive Systems, Inc. (CAAS) Announces Earnings Results, Beats Estimates By $0.14 EPS
China Automotive Systems, Inc. (NASDAQ:CAAS) announced its quarterly earnings results on Thursday. The auto parts company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.14, RTT News reports. The company had revenue of $117.66 million for the quarter, compared to analysts’ expectations of $106.74 million. China Automotive Systems had a net margin of 4.86% and a return on equity of 7.27%. During the same quarter in the previous year, the business posted $0.14 EPS.
China Automotive Systems (CAAS) traded down 1.3170% during trading on Friday, reaching $4.8256. 4,300 shares of the company’s stock traded hands. The firm has a market cap of $152.70 million, a price-to-earnings ratio of 6.8937 and a beta of 2.22. The company has a 50 day moving average of $4.82 and a 200 day moving average of $4.86. China Automotive Systems has a one year low of $3.52 and a one year high of $7.96.
A number of institutional investors have recently bought and sold shares of the stock. First Manhattan Co. raised its position 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 during the period. Stuyvesant Capital Management raised its position 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 during the period. Spark Investment Management LLC bought a new position in China Automotive Systems during the second quarter valued at about $228,000. Hanson & Doremus Investment Management raised its position in China Automotive Systems by 11.1% in the second quarter. Hanson & Doremus Investment Management now owns 86,545 shares of the auto parts company’s stock valued at $419,000 after buying an additional 8,680 shares during the period. Finally, Renaissance Technologies LLC raised its position 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 during the period. Institutional investors own 5.15% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of China Automotive Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine upgraded shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 16th.
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China Automotive Systems Company Profile
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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