China Automotive Systems (NASDAQ:CAAS) announced its quarterly earnings results on Friday. The auto parts company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02, MarketWatch Earnings reports. The firm had revenue of $112.08 million during the quarter, compared to analysts’ expectations of $118.29 million. China Automotive Systems had a negative net margin of 5.52% and a positive return on equity of 3.39%. China Automotive Systems updated its FY 2018 guidance to EPS.
Shares of NASDAQ:CAAS traded down $0.21 during trading on Friday, reaching $2.21. The stock had a trading volume of 28,593 shares, compared to its average volume of 30,865. China Automotive Systems has a 52 week low of $2.16 and a 52 week high of $5.23. The stock has a market capitalization of $80.20 million, a P/E ratio of 3.45 and a beta of 1.96.
A number of research analysts have commented on CAAS shares. ValuEngine upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Zacks Investment Research upgraded shares of China Automotive Systems from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Finally, TheStreet cut shares of China Automotive Systems from a “c-” rating to a “d+” rating in a research note on Friday, October 19th.
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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.
Further Reading: Why investors pay attention to retained earnings
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