Dangdang Downgraded by HSBC to “Neutral” (DANG)
Dangdang (NASDAQ:DANG) was downgraded by analysts at HSBC from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports.
DANG has been the subject of a number of other recent research reports. Analysts at Credit Suisse initiated coverage on shares of Dangdang in a research note to investors on Thursday, September 26th. They set an “outperform” rating on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Dangdang from a “neutral” rating to an “underweight” rating in a research note to investors on Friday, August 30th. They now have a $6.50 price target on the stock, up previously from $4.30. Finally, analysts at Morgan Stanley downgraded shares of Dangdang from an “overweight” rating to an “equal weight” rating in a research note to investors on Friday, August 16th. They now have a $10.50 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.16.
Shares of Dangdang (NASDAQ:DANG) traded down 12.02% during mid-day trading on Tuesday, hitting $10.215. The stock had a trading volume of 4,440,104 shares. Dangdang has a 1-year low of $3.68 and a 1-year high of $12.19. The stock’s 50-day moving average is $9.94 and its 200-day moving average is $7.60. The company’s market cap is $819.9 million.
Dangdang (NASDAQ:DANG) last released its earnings data on Thursday, August 15th. The company reported ($0.80) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.15) by $0.65. The company had revenue of $243.30 million for the quarter, compared to the consensus estimate of $235.53 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. On average, analysts predict that Dangdang will post $-0.55 earnings per share for the current fiscal year.
E-Commerce China Dangdang Inc (NASDAQ:DANG) is a holding company.
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