China Automotive Systems (CAAS) closed at $4.13 in the latest trading session, marking a -1.67% move from the prior day. This change was narrower than the S&P 500's 2.8% loss on the day. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the auto parts supplier had gained 1.2% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 10.48% and the S&P 500's loss of 4.08% in that time.
China Automotive Systems will be looking to display strength as it nears its next earnings release. On that day, China Automotive Systems is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 500%. Our most recent consensus estimate is calling for quarterly revenue 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 should also note any recent changes to analyst estimates for China Automotive Systems. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. China Automotive Systems is currently a Zacks Rank #1 (Strong Buy).
Investors should also note China Automotive Systems's current valuation metrics, including its Forward P/E ratio of 10.5. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 10.5.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report China Automotive Systems, Inc. (CAAS) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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