Phoenix New Media Limited (FENG) Posts Earnings Results
Phoenix New Media Limited (NYSE:FENG) announced its quarterly earnings results on Tuesday. The information services provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09, Briefing.com reports. Phoenix New Media Limited had a return on equity of 1.89% and a net margin of 2.56%. The company had revenue of $58 million during the quarter, compared to analysts’ expectations of $54.49 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year.
Shares of Phoenix New Media Limited (NYSE:FENG) traded up 2.50% during mid-day trading on Tuesday, hitting $2.87. The company’s stock had a trading volume of 46,851 shares. Phoenix New Media Limited has a 1-year low of $2.43 and a 1-year high of $4.30. The stock has a market cap of $221.08 million, a PE ratio of 39.86 and a beta of 1.13. The company has a 50-day moving average price of $2.69 and a 200-day moving average price of $3.21.
An institutional investor recently raised its position in Phoenix New Media Limited stock. State Street Corp raised its position in Phoenix New Media Limited (NYSE:FENG) by 18.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,261 shares of the information services provider’s stock after buying an additional 16,457 shares during the period. State Street Corp owned approximately 0.14% of Phoenix New Media Limited worth $274,000 at the end of the most recent quarter. Institutional investors and hedge funds own 14.00% of the company’s stock.
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Phoenix New Media Limited Company Profile
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet, mobile and television channels in China. The Company enables consumers to access professional news and other information, and upload text and images (UGC) on the Internet and through their mobile devices.
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