Analysts Anticipate China Automotive Systems, Inc. (CAAS) to Post $0.05 Earnings Per Share

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $6.00 for the company and are predicting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned China Automotive Systems an industry rank of 228 out of 256 based on the ratings given to related companies.

Several brokerages have weighed in on CAAS. ValuEngine downgraded China Automotive Systems from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded China Automotive Systems from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Finally, TheStreet downgraded China Automotive Systems from a “c-” rating to a “d+” rating in a report on Friday, October 19th.

CAAS opened at $2.80 on Wednesday. China Automotive Systems has a 12-month low of $2.00 and a 12-month high of $5.19. The stock has a market cap of $85.65 million, a P/E ratio of 4.38 and a beta of 1.44.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Friday, November 9th. The auto parts company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. China Automotive Systems had a positive return on equity of 1.97% and a negative net margin of 6.49%. The firm had revenue of $112.08 million for the quarter, compared to analyst estimates of $118.29 million. Analysts forecast that China Automotive Systems will post 0.23 earnings per share for the current year.

China Automotive Systems declared that its board has approved a share repurchase plan on Friday, December 7th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.

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