Bitauto Holdings Limited (BITA) Releases Earnings Results, Misses Estimates By $0.05 EPS

Bitauto Holdings Limited (NYSE:BITA) posted its quarterly earnings data on Tuesday. The information services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.05, Morningstar.com reports. Bitauto Holdings Limited had a positive return on equity of 4.03% and a negative net margin of 4.76%. The firm had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $282.86 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Bitauto Holdings Limited’s revenue for the quarter was up 52.9% compared to the same quarter last year.

Bitauto Holdings Limited (BITA) opened at 36.95 on Thursday. The stock’s market capitalization is $2.84 billion. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $40.63. The stock has a 50 day moving average price of $31.82 and a 200-day moving average price of $27.04.

Several large investors have recently modified their holdings of BITA. Wellington Management Group LLP boosted its stake in shares of Bitauto Holdings Limited by 1,647.1% in the first quarter. Wellington Management Group LLP now owns 278,605 shares of the information services provider’s stock valued at $7,135,000 after buying an additional 262,658 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Bitauto Holdings Limited by 1,411.3% in the first quarter. Bank of Montreal Can now owns 106,004 shares of the information services provider’s stock valued at $2,714,000 after buying an additional 98,990 shares during the last quarter. UBS Group AG boosted its stake in shares of Bitauto Holdings Limited by 6,428.0% in the first quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock valued at $10,509,000 after buying an additional 404,061 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Bitauto Holdings Limited during the first quarter valued at $14,677,000. Finally, Penserra Capital Management LLC boosted its stake in shares of Bitauto Holdings Limited by 19.4% in the first quarter. Penserra Capital Management LLC now owns 11,995 shares of the information services provider’s stock valued at $307,000 after buying an additional 1,953 shares during the last quarter. 18.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. BidaskClub upgraded Bitauto Holdings Limited from a “hold” rating to a “buy” rating in a report on Monday, July 31st. ValuEngine upgraded Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Monday, May 29th. Finally, HSBC Holdings plc reiterated a “buy” rating and issued a $33.00 price objective (up from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Bitauto Holdings Limited presently has a consensus rating of “Buy” and a consensus price target of $34.00.

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About Bitauto Holdings Limited

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback.

Earnings History for Bitauto Holdings Limited (NYSE:BITA)

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