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

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

Shares of China Automotive Systems stock opened at $2.21 on Friday. The company has a market cap of $77.93 million, a PE ratio of 6.89 and a beta of 1.96. China Automotive Systems has a 1-year low of $2.16 and a 1-year high of $5.23.

An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management increased its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,552 shares of the auto parts company’s stock after buying an additional 14,377 shares during the quarter. Hanson & Doremus Investment Management owned about 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.

CAAS has been the topic of several recent research reports. ValuEngine upgraded China Automotive Systems from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Zacks Investment Research upgraded China Automotive Systems from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Finally, TheStreet cut China Automotive Systems from a “c-” rating to a “d+” rating in a report 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.

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Earnings History for China Automotive Systems (NASDAQ:CAAS)

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