China Automotive Systems (CAAS) Issues Earnings Results

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.

An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management grew its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,552 shares of the auto parts company’s stock after acquiring an additional 14,377 shares during the period. Hanson & Doremus Investment Management owned 0.32% of China Automotive Systems worth $434,000 at the end of the most recent reporting period. Institutional investors own 3.66% of the company’s stock.

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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

Earnings History for China Automotive Systems (NASDAQ:CAAS)

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