China Automotive Systems (CAAS) shares move -1.67%: What you need to know
China Automotive Systems (CAAS) closed at $4.13 last trading session, marking a -1.67% move from the previous day. This change was narrower than the S&P 500’s 2.8% loss on the day. Meanwhile, the Dow Jones lost 2.11% and the tech-heavy Nasdaq lost 0.1%.
Prior to today’s session, shares of the auto parts supplier had gained 1.2% in the past month. This exceeded the Auto-Tyres-Trucks sector’s loss of 10.48% and the S&P 500’s loss of 4.08% during this period.
China Automotive Systems will look to show strength ahead of its next earnings release. On that day, China Automotive Systems is expected to report earnings of $0.04 per share, which would represent 500% year-over-year growth. Our most recent consensus estimate calls for quarterly revenue of $120.56 million, up 11.39% from the prior year period.
For the full year, our Zacks consensus estimates call for earnings of $0.40 per share and revenue of $515.59 million, which would represent swings of +11.11% and +3.54%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for China Automotive Systems. Recent revisions tend to reflect the latest short-term trading trends. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated to short-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success, with No. 1 stocks delivering an average annual return of +25% since 1988. Over the past month, Zacks Consensus’ EPS estimate has remained stagnant. China Automotive Systems is currently a Zacks Rank #1 (Strong Buy).
Investors should also note China Automotive Systems’ current valuation metrics, including its Forward P/E ratio of 10.5. This valuation marks an imperceptible difference compared to the average Forward P/E of its sector of 10.5.
The Automotive – Original Equipment industry is part of the Cars-Tyres-Trucks sector. This industry currently has a Zacks Industry Rank of 139, which places it in the bottom 45% of all 250+ industries.
The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
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China Automotive Systems, Inc. (CAAS): Free Inventory Analysis Report
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