China Automotive Systems (NASDAQ:CAAS) announced its quarterly earnings results on Friday. The auto parts company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. China Automotive Systems had a negative net margin of 5.52% and a positive return on equity of 3.39%. The firm had revenue of $112.08 million during the quarter, compared to the consensus estimate of $118.29 million. China Automotive Systems updated its FY 2018 guidance to EPS.
NASDAQ:CAAS traded down $0.21 during trading hours on Friday, hitting $2.21. The stock had a trading volume of 28,593 shares, compared to its average volume of 30,865. China Automotive Systems has a one year low of $2.16 and a one year high of $5.23. The company has a market cap of $80.20 million, a price-to-earnings ratio of 3.45 and a beta of 1.96.
An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management raised its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,552 shares of the auto parts company’s stock after purchasing an additional 14,377 shares during the period. Hanson & Doremus Investment Management owned 0.32% of China Automotive Systems worth $434,000 at the end of the most recent reporting period. 3.66% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. ValuEngine downgraded shares of China Automotive Systems from a “sell” rating to a “strong sell” rating in a report on Saturday. TheStreet downgraded shares of China Automotive Systems from a “c-” rating to a “d+” rating in a report on Friday, October 19th. Finally, Zacks Investment Research raised shares of China Automotive Systems from a “sell” rating to a “hold” rating in a report on Monday, October 22nd.
China Automotive Systems Company Profile
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. The company produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic systems and parts.
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