China Automotive Systems (NASDAQ:CAAS) Issues Quarterly Earnings Results

China Automotive Systems (NASDAQ:CAAS) released its quarterly earnings results on Tuesday. The auto parts company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09), MarketWatch Earnings reports. The firm had revenue of $73.56 million during the quarter, compared to the consensus estimate of $55.50 million. China Automotive Systems had a net margin of 2.15% and a return on equity of 2.76%. China Automotive Systems updated its FY 2020
Pre-Market guidance to EPS.

CAAS stock traded down $0.05 during trading on Thursday, reaching $2.45. 28,104 shares of the company were exchanged, compared to its average volume of 152,620. The company has a market cap of $92.59 million, a P/E ratio of 9.26 and a beta of 1.53. China Automotive Systems has a 52-week low of $1.42 and a 52-week high of $4.16. The stock’s 50 day moving average price is $2.11 and its 200 day moving average price is $2.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.18 and a current ratio of 1.45.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of China Automotive Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 21st. ValuEngine lowered shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday.

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.

Further Reading: Why is cost of goods sold important?

Earnings History for China Automotive Systems (NASDAQ:CAAS)

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