China Automotive Systems (CAAS) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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China Automotive Systems (NASDAQ:CAAS) posted its quarterly earnings data on Friday. The auto parts company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. China Automotive Systems had a negative net margin of 5.52% and a positive return on equity of 3.39%. The business had revenue of $112.08 million during the quarter, compared to analyst estimates of $118.29 million. China Automotive Systems updated its FY 2018 guidance to EPS.

NASDAQ:CAAS traded down $0.21 during mid-day trading on Friday, hitting $2.21. The stock had a trading volume of 28,593 shares, compared to its average volume of 30,865. The stock has a market cap of $80.20 million, a price-to-earnings ratio of 3.45 and a beta of 1.96. China Automotive Systems has a twelve month low of $2.16 and a twelve month high of $5.23.

Several research analysts have recently commented on the stock. ValuEngine lowered shares of China Automotive Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research lowered shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Finally, TheStreet lowered shares of China Automotive Systems from a “c-” rating to a “d+” rating in a research note on Friday, October 19th.

A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management boosted its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,552 shares of the auto parts company’s stock after acquiring an additional 14,377 shares during the quarter. Hanson & Doremus Investment Management owned 0.32% of China Automotive Systems worth $434,000 at the end of the most recent quarter. 3.66% of the stock is currently owned by institutional investors.

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About China Automotive Systems

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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Earnings History for China Automotive Systems (NASDAQ:CAAS)

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