China Metro Rural (NYSEMKT:CNR) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01), Fidelity Earnings reports. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 183.4% on a year-over-year basis.
CNR has been the topic of several analyst reports. Zacks Investment Research cut China Metro Rural from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. BMO Capital Markets upped their price objective on shares of China Metro Rural from $125.00 to $126.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Finally, Raymond James restated an “average” rating and issued a $135.00 price objective on shares of China Metro Rural in a research report on Wednesday, July 24th.
In related news, Chairman James S. Metcalf acquired 100,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was purchased at an average price of $4.45 per share, with a total value of $445,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey S. Lee acquired 80,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were bought at an average cost of $5.85 per share, with a total value of $468,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 230,000 shares of company stock valued at $1,134,650.
China Metro-Rural Holdings Limited is a developer and operator of integrated agricultural logistics and trade centers in China. The Company’s segments include agricultural logistics, and rural-urban migration and city re-development. The Company’s agricultural logistics business includes development and operation of integrated agricultural logistics and trade centers and supporting facilities, and property management, which engages in the management of developed properties within the logistics platforms, known as China Northeast Logistics Cities.
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