Zacks: Brokerages Set $8.80 Target Price for Cango Inc – (NYSE:CANG)
Cango Inc – (NYSE:CANG) has received an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Cango’s rating score has declined by 100% in the last three months as a result of various analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price objective of $8.80 for the company and are forecasting that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also given Cango an industry rank of 182 out of 255 based on the ratings given to related companies.
CANG has been the topic of a number of recent research reports. Morgan Stanley downgraded Cango from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 27th. Zacks Investment Research downgraded Cango from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, TheStreet upgraded Cango from a “d+” rating to a “c-” rating in a research note on Friday, December 6th.
Cango (NYSE:CANG) last issued its earnings results on Thursday, November 14th. The company reported $0.11 EPS for the quarter. Cango had a return on equity of 6.43% and a net margin of 24.94%. The firm had revenue of $49.15 million for the quarter. On average, sell-side analysts expect that Cango will post 0.36 earnings per share for the current year.
Cango Company Profile
Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.
Read More: Real Estate Investment Trust (REIT) ETF
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cango Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cango and related companies with MarketBeat.com's FREE daily email newsletter.