Piper Jaffray Companies Brokers Lift Earnings Estimates for Ninetowns Internet Technlgy Grp Co Ltd. (NINE)

Ninetowns Internet Technlgy Grp Co Ltd. (NASDAQ:NINE) – Analysts at Piper Jaffray Companies increased their FY2019 EPS estimates for Ninetowns Internet Technlgy Grp in a research report issued to clients and investors on Tuesday, May 14th. Piper Jaffray Companies analyst J. Daniel now forecasts that the company will post earnings per share of $1.51 for the year, up from their prior estimate of $1.41.

Ninetowns Internet Technlgy Grp (NASDAQ:NINE) last issued its earnings results on Wednesday, March 6th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.01). The business had revenue of $229.45 million during the quarter, compared to the consensus estimate of $231.71 million.



A number of other brokerages also recently commented on NINE. Tudor Pickering upgraded Ninetowns Internet Technlgy Grp from a “hold” rating to a “buy” rating and set a $24.79 target price for the company in a research note on Tuesday, February 5th. Raymond James boosted their price objective on Ninetowns Internet Technlgy Grp from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 8th. Zacks Investment Research upgraded Ninetowns Internet Technlgy Grp from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Goldman Sachs Group began coverage on Ninetowns Internet Technlgy Grp in a research report on Sunday, March 10th. They set a “buy” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Ninetowns Internet Technlgy Grp presently has an average rating of “Buy” and a consensus target price of $36.75.

Shares of NINE stock opened at $22.09 on Thursday. Ninetowns Internet Technlgy Grp has a 52 week low of $19.02 and a 52 week high of $40.39.

In other news, insider David Crombie sold 27,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $21.61, for a total transaction of $583,707.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Theodore R. Moore sold 8,730 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $21.54, for a total value of $188,044.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,741 shares of company stock valued at $2,115,752.

Several hedge funds and other institutional investors have recently modified their holdings of NINE. Pearl River Capital LLC acquired a new stake in Ninetowns Internet Technlgy Grp in the fourth quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ninetowns Internet Technlgy Grp by 107.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,417 shares of the company’s stock worth $32,000 after purchasing an additional 734 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Ninetowns Internet Technlgy Grp in the first quarter worth approximately $35,000. Great West Life Assurance Co. Can acquired a new stake in Ninetowns Internet Technlgy Grp in the fourth quarter worth approximately $39,000. Finally, Legal & General Group Plc lifted its position in Ninetowns Internet Technlgy Grp by 94.8% in the third quarter. Legal & General Group Plc now owns 2,221 shares of the company’s stock worth $68,000 after purchasing an additional 1,081 shares during the period.

About Ninetowns Internet Technlgy Grp

Ninetowns Internet Technology Group Company Limited is a software company that enables enterprises and trade-related People’s Republic of China Government agencies to streamline the import/export process in China. It operates in four segments: enterprise software and related maintenance services , software development services segment, B2C e-commerce and, and real estate development.

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Earnings History and Estimates for Ninetowns Internet Technlgy Grp (NASDAQ:NINE)

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