Qudian (QD) Shares Up 36.8% After Earnings Beat

Qudian Inc – (NYSE:QD) shot up 36.8% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $6.15 and last traded at $5.87. 11,233,532 shares traded hands during trading, an increase of 933% from the average session volume of 1,087,834 shares. The stock had previously closed at $4.29.

The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Qudian had a return on equity of 22.56% and a net margin of 30.49%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year.

Several brokerages have recently issued reports on QD. ValuEngine cut Qudian from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Needham & Company LLC lowered Qudian from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Macquarie lowered Qudian from an “outperform” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Monday, August 27th. Finally, Sanford C. Bernstein lowered Qudian from an “outperform” rating to a “market perform” rating and set a $7.00 price target on the stock. in a report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.75.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Qudian by 26.3% in the third quarter. BlackRock Inc. now owns 2,507,400 shares of the company’s stock worth $13,064,000 after purchasing an additional 521,560 shares during the period. Vanguard Group Inc. increased its stake in Qudian by 7.3% in the third quarter. Vanguard Group Inc. now owns 2,033,111 shares of the company’s stock worth $10,593,000 after purchasing an additional 138,540 shares during the period. Federated Investors Inc. PA increased its stake in Qudian by 40.8% in the second quarter. Federated Investors Inc. PA now owns 1,155,185 shares of the company’s stock worth $10,235,000 after purchasing an additional 334,985 shares during the period. Krane Funds Advisors LLC increased its stake in Qudian by 31.5% in the third quarter. Krane Funds Advisors LLC now owns 1,108,728 shares of the company’s stock worth $5,776,000 after purchasing an additional 265,898 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in Qudian in the third quarter worth $4,210,000. Institutional investors own 5.11% of the company’s stock.

The stock has a market cap of $1.94 billion and a price-to-earnings ratio of 4.58. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.03.

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About Qudian (NYSE:QD)

Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers cash credit products, such as cash short-term unsecured lines of credit, which are distributed in digital form; and merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis, as well as budget auto financing products.

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