China Automotive Systems Inc. (CAAS) Announces Quarterly Earnings Results
China Automotive Systems Inc. (NASDAQ:CAAS) issued its quarterly earnings data on Thursday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. China Automotive Systems had a net margin of 5.47% and a return on equity of 7.62%. The company earned $94.60 million during the quarter, compared to the consensus estimate of $93.34 million. During the same quarter last year, the company earned $0.13 earnings per share.
Shares of China Automotive Systems (NASDAQ:CAAS) opened at 4.14 on Monday. The firm has a 50-day moving average of $4.03 and a 200 day moving average of $3.86. The firm has a market cap of $132.50 million, a P/E ratio of 6.00 and a beta of 2.57. China Automotive Systems has a 12 month low of $3.10 and a 12 month high of $6.18.
An institutional investor recently bought a new position in China Automotive Systems stock. Chartwell Investment Partners LLC acquired a new position in China Automotive Systems Inc. (NASDAQ:CAAS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 421,070 shares of the company’s stock, valued at approximately $1,360,000. Chartwell Investment Partners LLC owned about 1.31% of China Automotive Systems as of its most recent filing with the SEC. 4.86% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of China Automotive Systems from a “sell” rating to a “hold” rating in a research report on Monday, October 17th.
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.
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