China Automotive Systems (CAAS) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS
China Automotive Systems (NASDAQ:CAAS) released its earnings data on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.17, StockRatingsNetwork reports. The company had revenue of $115.50 million for the quarter, compared to the consensus estimate of $119.62 million.
On a related note, analysts at Zacks downgraded shares of China Automotive Systems from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $10.30 price target on the stock.
China Automotive Systems (NASDAQ:CAAS) opened at 8.63 on Wednesday. China Automotive Systems has a 52-week low of $5.95 and a 52-week high of $9.87. The stock’s 50-day moving average is $8.84 and its 200-day moving average is $8.22. The company has a market cap of $242.0 million and a P/E ratio of 8.73.
China Automotive Systems, Inc (NASDAQ:CAAS) is a holding company and has no significant business operations or assets other than its interest in Great Genesis Holdings Limited (Genesis).
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