Bitauto (NYSE:BITA) issued its quarterly earnings data on Wednesday. The information services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.09, Briefing.com reports. The business had revenue of $387.50 million for the quarter, compared to analyst estimates of $375.85 million. Bitauto had a negative return on equity of 8.19% and a negative net margin of 16.63%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS.
NYSE:BITA traded up $1.69 during mid-day trading on Wednesday, hitting $22.55. 22,597 shares of the company’s stock traded hands, compared to its average volume of 781,929. Bitauto has a 12 month low of $18.47 and a 12 month high of $54.42. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -6.50 and a beta of 3.11.
Several brokerages recently weighed in on BITA. ValuEngine upgraded Bitauto from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. CLSA downgraded Bitauto from an “outperform” rating to an “underperform” rating in a research note on Thursday, May 3rd. Zacks Investment Research upgraded Bitauto from a “strong sell” rating to a “hold” rating in a research note on Monday, May 28th. Macquarie downgraded Bitauto from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 14th. Finally, TheStreet downgraded Bitauto from a “c-” rating to a “d” rating in a research note on Wednesday, May 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.33.
Bitauto Company Profile
Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.
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