Bitauto (BITA) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Bitauto (NYSE:BITA) posted its quarterly earnings data on Thursday. The information services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.10, Morningstar.com reports. Bitauto had a negative net margin of 3.57% and a positive return on equity of 1.45%. The company had revenue of $407.50 million during the quarter, compared to analyst estimates of $368.34 million. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Bitauto updated its Q2 2019 guidance to EPS.

NYSE:BITA opened at $10.74 on Friday. Bitauto has a twelve month low of $9.46 and a twelve month high of $30.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $773.94 million, a PE ratio of 25.33 and a beta of 1.04.

Several large investors have recently bought and sold shares of the company. Morgan Stanley lifted its stake in Bitauto by 88.5% during the third quarter. Morgan Stanley now owns 104,185 shares of the information services provider’s stock valued at $2,396,000 after buying an additional 48,905 shares in the last quarter. Norges Bank purchased a new stake in Bitauto during the fourth quarter valued at about $9,222,000. Westpac Banking Corp purchased a new stake in Bitauto during the fourth quarter valued at about $1,517,000. SG Americas Securities LLC purchased a new stake in Bitauto during the fourth quarter valued at about $799,000. Finally, River & Mercantile Asset Management LLP lifted its stake in Bitauto by 27.5% during the fourth quarter. River & Mercantile Asset Management LLP now owns 318,713 shares of the information services provider’s stock valued at $7,883,000 after buying an additional 68,658 shares in the last quarter. Institutional investors own 27.87% of the company’s stock.

Several research firms have recently weighed in on BITA. Zacks Investment Research lowered shares of Bitauto from a “buy” rating to a “sell” rating in a research report on Wednesday, February 27th. ValuEngine lowered shares of Bitauto from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 27th. Finally, Bank of America reduced their price objective on shares of Bitauto from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Bitauto currently has an average rating of “Hold” and an average price target of $24.17.

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Bitauto Company Profile

Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.

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Earnings History for Bitauto (NYSE:BITA)

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