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China Automotive Systems (CAAS) Gains But Lags Market: What You Should Know
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China Automotive Systems (CAAS - Free Report) closed at $4.05 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 2.6% gain on the day. Elsewhere, the Dow gained 2.83%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the auto parts supplier had lost 4.49% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 22.69% and the S&P 500's loss of 12.9% in that time.
Investors will be hoping for strength from China Automotive Systems as it approaches its next earnings release. The company is expected to report EPS of $0.04, up 500% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $120.56 million, up 11.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.40 per share and revenue of $515.59 million, which would represent changes of +11.11% and +3.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for China Automotive Systems. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. China Automotive Systems is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, China Automotive Systems is currently trading at a Forward P/E ratio of 10.1. This represents a discount compared to its industry's average Forward P/E of 10.3.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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China Automotive Systems (CAAS) Gains But Lags Market: What You Should Know
China Automotive Systems (CAAS - Free Report) closed at $4.05 in the latest trading session, marking a +0.25% move from the prior day. This change lagged the S&P 500's 2.6% gain on the day. Elsewhere, the Dow gained 2.83%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the auto parts supplier had lost 4.49% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 22.69% and the S&P 500's loss of 12.9% in that time.
Investors will be hoping for strength from China Automotive Systems as it approaches its next earnings release. The company is expected to report EPS of $0.04, up 500% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $120.56 million, up 11.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.40 per share and revenue of $515.59 million, which would represent changes of +11.11% and +3.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for China Automotive Systems. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. China Automotive Systems is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, China Automotive Systems is currently trading at a Forward P/E ratio of 10.1. This represents a discount compared to its industry's average Forward P/E of 10.3.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.