Dangdang Trading Up 33.5% After Strong Earnings (DANG)
Shares of Dangdang (NASDAQ:DANG) were up 33.5% during mid-day trading on Thursday following a better than expected earnings announcement, StockRatingsNetwork reports. The stock traded as high as $13.33 and last traded at $13.31, with a volume of 18,990,187 shares. The stock had previously closed at $9.97.
The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.11. The company had revenue of $325.70 million for the quarter, compared to the consensus estimate of $315.83 million. During the same quarter last year, the company posted ($0.24) earnings per share.
A number of analysts have recently weighed in on DANG shares. Analysts at Thomson Reuters/Verus upgraded shares of Dangdang from a “hold” rating to a “buy” rating in a research note on Monday. Analysts at Zacks downgraded shares of Dangdang from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 2nd. They now have a $10.90 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.11.
The stock has a 50-day moving average of $9.93 and a 200-day moving average of $9.54. The company’s market cap is $1.066 billion.
E-Commerce China Dangdang Inc (NASDAQ:DANG) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.