Cango (NYSE:CANG) Announces Earnings Results, Misses Expectations By $1.09 EPS

Cango (NYSE:CANGGet Rating) released its quarterly earnings results on Thursday. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($1.09), Fidelity Earnings reports. Cango had a return on equity of 1.78% and a net margin of 3.52%. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. Cango updated its Q2 2022 guidance to EPS.

Shares of Cango stock opened at $3.08 on Friday. Cango has a 52-week low of $1.95 and a 52-week high of $6.04. The stock has a market capitalization of $430.40 million, a price-to-earnings ratio of 25.67 and a beta of 0.73. The company has a fifty day moving average of $2.90 and a 200-day moving average of $3.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.23 and a current ratio of 2.23.

The firm also recently disclosed a — dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 25th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Tuesday, May 24th.

Institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Cango by 95.7% in the 1st quarter. Morgan Stanley now owns 5,236 shares of the company’s stock valued at $44,000 after purchasing an additional 2,560 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Cango during the 4th quarter valued at $41,000. Schonfeld Strategic Advisors LLC boosted its position in Cango by 28.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 20,100 shares of the company’s stock valued at $63,000 after buying an additional 4,500 shares during the period. Jane Street Group LLC boosted its position in Cango by 55.2% during the 3rd quarter. Jane Street Group LLC now owns 22,031 shares of the company’s stock valued at $89,000 after buying an additional 7,836 shares during the period. Finally, Citigroup Inc. boosted its position in Cango by 17.7% during the 4th quarter. Citigroup Inc. now owns 28,990 shares of the company’s stock valued at $91,000 after buying an additional 4,352 shares during the period. 22.51% of the stock is owned by institutional investors.

Cango Company Profile (Get Rating)

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions, including car sourcing, logistics, and warehousing support for dealers; and facilitation of car purchases for car buyers.

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Earnings History for Cango (NYSE:CANG)

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