Chindata Group (NASDAQ:CD) Releases Quarterly Earnings Results

Chindata Group (NASDAQ:CD) announced its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.25, Fidelity Earnings reports. Chindata Group had a negative net margin of 3.01% and a negative return on equity of 0.52%. During the same period in the prior year, the firm earned ($0.08) EPS.

NASDAQ:CD traded up $0.20 during trading hours on Thursday, reaching $9.70. 1,919,332 shares of the company were exchanged, compared to its average volume of 1,404,409. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.16 and a quick ratio of 4.16. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -161.67 and a beta of 3.25. Chindata Group has a 52-week low of $7.75 and a 52-week high of $27.47. The stock has a 50 day simple moving average of $9.65 and a 200 day simple moving average of $12.28.

CD has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Chindata Group in a research note on Wednesday, August 18th. They set an “overweight” rating and a $18.00 price objective on the stock. Zacks Investment Research raised shares of Chindata Group from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.35.

A number of large investors have recently bought and sold shares of CD. Morgan Stanley raised its stake in Chindata Group by 2,045.5% during the second quarter. Morgan Stanley now owns 78,203 shares of the company’s stock worth $1,180,000 after purchasing an additional 74,558 shares during the period. Invesco Ltd. raised its stake in Chindata Group by 124.6% during the third quarter. Invesco Ltd. now owns 150,278 shares of the company’s stock worth $1,264,000 after purchasing an additional 83,354 shares during the period. Royal Bank of Canada raised its stake in Chindata Group by 91.7% during the third quarter. Royal Bank of Canada now owns 32,211 shares of the company’s stock worth $271,000 after purchasing an additional 15,409 shares during the period. UBS Group AG raised its stake in Chindata Group by 78.9% during the third quarter. UBS Group AG now owns 360,209 shares of the company’s stock worth $3,030,000 after purchasing an additional 158,876 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Chindata Group by 10.2% in the third quarter. Bank of New York Mellon Corp now owns 78,075 shares of the company’s stock worth $657,000 after acquiring an additional 7,219 shares in the last quarter. 14.40% of the stock is currently owned by institutional investors.

Chindata Group Company Profile

Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in China, India, and Southeast Asia. It offers artificial intelligence, cloud computing, smart cities and homes, online entertainment, and other on-demand services. The company also provides internet data center colocation and rental services; and technical and consulting services.

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Earnings History for Chindata Group (NASDAQ:CD)

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