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China Automotive Systems (CAAS) Stock Sinks As Market Gains: What You Should Know
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China Automotive Systems (CAAS - Free Report) closed the most recent trading day at $7.14, moving -1.79% from the previous trading session. This change lagged the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the auto parts supplier had lost 10.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 3.69%, while the S&P 500 lost 4.07%.
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 $0.07, down 56.25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $138.46 million, down 0.24% from the year-ago period.
Any recent changes to analyst estimates for China Automotive Systems should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, China Automotive Systems is currently trading at a Forward P/E ratio of 15.15. Its industry sports an average Forward P/E of 14.31, so we one might conclude that China Automotive Systems is trading at a premium comparatively.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CAAS in the coming trading sessions, be sure to utilize Zacks.com.
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China Automotive Systems (CAAS) Stock Sinks As Market Gains: What You Should Know
China Automotive Systems (CAAS - Free Report) closed the most recent trading day at $7.14, moving -1.79% from the previous trading session. This change lagged the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the auto parts supplier had lost 10.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 3.69%, while the S&P 500 lost 4.07%.
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 $0.07, down 56.25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $138.46 million, down 0.24% from the year-ago period.
Any recent changes to analyst estimates for China Automotive Systems should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, China Automotive Systems is currently trading at a Forward P/E ratio of 15.15. Its industry sports an average Forward P/E of 14.31, so we one might conclude that China Automotive Systems is trading at a premium comparatively.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow CAAS in the coming trading sessions, be sure to utilize Zacks.com.