Analysts Anticipate China Automotive Systems, Inc. (CAAS) to Announce $0.21 Earnings Per Share
China Automotive Systems, Inc. (NASDAQ:CAAS) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $8.00 for the company and are forecasting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given China Automotive Systems an industry rank of 91 out of 265 based on the ratings given to its competitors.
Several research firms have recently issued reports on CAAS. Zacks Investment Research upgraded shares of China Automotive Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research report on Sunday, December 3rd.
China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings results on Thursday, November 9th. The auto parts company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). China Automotive Systems had a net margin of 5.05% and a return on equity of 7.93%. analysts predict that China Automotive Systems will post 0.83 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in China Automotive Systems stock. Macquarie Group Ltd. acquired a new stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 53,245 shares of the auto parts company’s stock, valued at approximately $277,000. Macquarie Group Ltd. owned about 0.17% of China Automotive Systems at the end of the most recent reporting period. Institutional investors and hedge funds own 5.34% of the company’s stock.
China Automotive Systems Company Profile
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for China Automotive Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems and related companies with MarketBeat.com's FREE daily email newsletter.