Positive Media Coverage Somewhat Likely to Impact China Automotive Systems (NASDAQ:CAAS) Share Price
Headlines about China Automotive Systems (NASDAQ:CAAS) have been trending positive this week, Accern reports. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. China Automotive Systems earned a coverage optimism score of 0.31 on Accern’s scale. Accern also gave news stories about the auto parts company an impact score of 50 out of 100, meaning that recent news coverage is somewhat likely to have an effect on the stock’s share price in the next few days.
China Automotive Systems (CAAS) traded down 0.2795% on Friday, reaching $4.8514. The company’s stock had a trading volume of 13,279 shares. China Automotive Systems has a 12-month low of $3.32 and a 12-month high of $7.96. The firm has a 50-day moving average of $4.91 and a 200 day moving average of $5.05. The company has a market capitalization of $153.52 million, a price-to-earnings ratio of 6.9306 and a beta of 2.22.
China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Thursday, May 11th. The auto parts company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by $0.01. The company had revenue of $119.31 million for the quarter, compared to analysts’ expectations of $118.36 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 prior year, the business posted $0.18 earnings per share. On average, equities research analysts anticipate that China Automotive Systems will post $0.72 EPS for the current fiscal year.
Several research analysts have weighed in on the company. Greenridge Global upgraded China Automotive Systems from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Wednesday, April 5th. ValuEngine upgraded China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 16th. Finally, Zacks Investment Research downgraded China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th.
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.
Receive News & Ratings for China Automotive Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.