Chindata Group (NASDAQ:CD) Announces Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Chindata Group (NASDAQ:CD) issued its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ 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 posted ($0.08) EPS.

Chindata Group stock traded up $0.20 during trading hours on Thursday, hitting $9.70. 1,919,332 shares of the company traded hands, compared to its average volume of 1,404,409. The firm has a market cap of $3.54 billion, a P/E ratio of -161.67 and a beta of 3.25. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $9.65 and its two-hundred day simple moving average is $12.28. Chindata Group has a 1-year low of $7.75 and a 1-year high of $27.47.

A number of institutional investors have recently added to or reduced their stakes in CD. UBS Group AG grew its stake in shares of Chindata Group by 78.9% in the 3rd 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 last quarter. Morgan Stanley grew its stake in shares of Chindata Group by 169.6% in the 3rd quarter. Morgan Stanley now owns 210,830 shares of the company’s stock worth $1,773,000 after purchasing an additional 132,627 shares during the last quarter. Invesco Ltd. grew its stake in shares of Chindata Group by 124.6% in the 3rd 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 last quarter. Bank of New York Mellon Corp grew its stake in shares of Chindata Group by 10.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 78,075 shares of the company’s stock worth $657,000 after purchasing an additional 7,219 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Chindata Group by 91.7% in the 3rd 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 last quarter. 14.40% of the stock is currently owned by hedge funds and other institutional investors.

CD has been the topic of several recent research reports. Zacks Investment Research upgraded 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 report on Thursday. JPMorgan Chase & Co. began coverage on shares of Chindata Group in a research report on Wednesday, August 18th. They issued an “overweight” rating and a $18.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.35.

About Chindata Group

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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