China Automotive Systems (CAAS) Releases Earnings Results, Beats Expectations By $0.02 EPS
China Automotive Systems (NASDAQ:CAAS) announced its quarterly earnings data on Friday. The auto parts company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02, MarketWatch Earnings reports. China Automotive Systems had a negative net margin of 5.52% and a positive return on equity of 3.39%. The firm had revenue of $112.08 million during the quarter, compared to analyst estimates of $118.29 million. China Automotive Systems updated its FY 2018 guidance to EPS.
CAAS stock traded down $0.21 during mid-day trading on Friday, hitting $2.21. 28,593 shares of the company were exchanged, compared to its average volume of 30,865. The firm has a market cap of $80.20 million, a PE ratio of 3.45 and a beta of 1.96. China Automotive Systems has a 12-month low of $2.16 and a 12-month high of $5.23.
An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management boosted its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 0.32% of China Automotive Systems worth $434,000 as of its most recent SEC filing. 3.66% of the stock is currently owned by institutional investors.
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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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