Bitauto (BITA) Posts Earnings Results

Bitauto (NYSE:BITA) announced its quarterly earnings data on Thursday. The information services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.10, Morningstar.com reports. The company had revenue of $407.50 million during the quarter, compared to the consensus estimate of $368.34 million. Bitauto had a negative return on equity of 0.42% and a negative net margin of 5.67%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. Bitauto updated its Q2 2019 guidance to EPS.

Shares of NYSE:BITA opened at $10.40 on Friday. The company has a market cap of $763.03 million, a P/E ratio of 7.43 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.46. Bitauto has a 12-month low of $9.46 and a 12-month high of $30.72.

Several large investors have recently made changes to their positions in BITA. Marshall Wace North America L.P. bought a new position in shares of Bitauto during the 1st quarter valued at approximately $35,000. Intercontinental Wealth Advisors LLC bought a new position in shares of Bitauto during the 4th quarter valued at approximately $87,000. Quantamental Technologies LLC bought a new position in shares of Bitauto during the 1st quarter valued at approximately $90,000. Segantii Capital Management Ltd purchased a new position in Bitauto in the 1st quarter worth approximately $92,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Bitauto in the 1st quarter worth approximately $128,000. Institutional investors own 27.87% of the company’s stock.



BITA has been the subject of a number of recent research reports. Zacks Investment Research downgraded Bitauto from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. ValuEngine downgraded Bitauto from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.20.

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About Bitauto

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

See Also: Return On Assets

Earnings History for Bitauto (NYSE:BITA)

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