Cango (CANG) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Cango (NYSE:CANG) announced its quarterly earnings data on Tuesday. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.08), reports. The company had revenue of $52.40 million during the quarter. Cango had a net margin of 27.82% and a return on equity of 14.26%. Cango updated its Q2 2019 guidance to EPS.

Shares of NYSE CANG opened at $5.00 on Wednesday. The stock has a market capitalization of $755.53 million and a PE ratio of 16.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.04 and a quick ratio of 3.04. Cango has a fifty-two week low of $4.87 and a fifty-two week high of $13.90.

The business also recently disclosed a special dividend, which was paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, May 9th.

Separately, Zacks Investment Research upgraded Cango from a “sell” rating to a “hold” rating in a report on Thursday, March 21st.

An institutional investor recently raised its position in Cango stock. Primavera Capital Management Ltd increased its holdings in shares of Cango Inc – (NYSE:CANG) by 21.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,243,939 shares of the company’s stock after purchasing an additional 1,089,607 shares during the period. Cango accounts for approximately 3.0% of Primavera Capital Management Ltd’s holdings, making the stock its 4th largest position. Primavera Capital Management Ltd owned about 4.13% of Cango worth $49,577,000 at the end of the most recent quarter. Institutional investors and hedge funds own 21.88% of the company’s stock.

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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.

See Also: Risk Tolerance

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