Cheetah Mobile Inc (CMCM) Releases Quarterly Earnings Results, Hits Estimates
Cheetah Mobile Inc (NASDAQ:CMCM) released its quarterly earnings data on Tuesday. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share.
Shares of Cheetah Mobile (NASDAQ:CMCM) opened at 12.36 on Tuesday. The firm’s 50-day moving average price is $10.37 and its 200 day moving average price is $10.83. Cheetah Mobile has a 12 month low of $8.77 and a 12 month high of $18.19. The company’s market cap is $1.71 billion.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC raised its position in shares of Cheetah Mobile by 21.1% in the third quarter. Aperio Group LLC now owns 12,683 shares of the company’s stock valued at $158,000 after buying an additional 2,211 shares during the period. FIL Ltd raised its position in shares of Cheetah Mobile by 101.7% in the fourth quarter. FIL Ltd now owns 104,060 shares of the company’s stock valued at $995,000 after buying an additional 52,460 shares during the period. Bank of Montreal Can acquired a new position in shares of Cheetah Mobile during the third quarter valued at about $117,000. State Street Corp raised its position in shares of Cheetah Mobile by 18.1% in the fourth quarter. State Street Corp now owns 100,207 shares of the company’s stock valued at $957,000 after buying an additional 15,381 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Cheetah Mobile during the fourth quarter valued at about $1,064,000.
Several research firms have commented on CMCM. Instinet began coverage on Cheetah Mobile in a report on Monday, February 13th. They set a “neutral” rating and a $10.00 price objective on the stock. Zacks Investment Research downgraded Cheetah Mobile from a “hold” rating to a “sell” rating in a report on Monday, January 9th.
About Cheetah Mobile
Cheetah Mobile Inc is a holding company. The Company and its consolidated subsidiaries, variable interest entities (VIEs) and a VIE’s subsidiary are engaged in the provision of online marketing services, Internet value-added services, and Internet security services and others. The Company operates a platform that offers mobile and personal computer (PC) applications for its users and global content promotional channels for its customers, both of which are powered by its cloud-based data analytics engines.
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