Brokerages Anticipate China Automotive Systems, Inc. (NASDAQ:CAAS) to Post $0.01 Earnings Per Share

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price objective of $4.50 for the company and are anticipating that the company will post $0.01 earnings per share for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 178 out of 256 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on CAAS. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Greenridge Global reaffirmed a “buy” rating on shares of China Automotive Systems in a research report on Friday, March 29th. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th.

Shares of NASDAQ CAAS traded up $0.14 during midday trading on Friday, reaching $2.28. 9,285 shares of the company’s stock were exchanged, compared to its average volume of 8,267. China Automotive Systems has a 52-week low of $2.00 and a 52-week high of $5.00. The company has a market capitalization of $73.73 million, a PE ratio of 28.50 and a beta of 1.53. The stock’s fifty day moving average price is $2.27.

China Automotive Systems (NASDAQ:CAAS) last announced its earnings results on Thursday, May 9th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. China Automotive Systems had a negative return on equity of 0.17% and a negative net margin of 0.11%. The business had revenue of $109.19 million for the quarter, compared to analyst estimates of $126.56 million. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, sell-side analysts predict that China Automotive Systems will post 0.17 earnings per share for the current fiscal year.

China Automotive Systems Company Profile

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. The company produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic systems and parts.

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