Streetbeat News

CAAS

China Automotive Systems, Inc.

https://www.caasauto.com

Industry

Auto - Parts

China Automotive Systems, Inc., through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic and hydraulic power steering systems and parts. The company also offers automotive motors and electromechanical integrated systems; polymer materials; and intelligent automotive technology research and development services. In addition, it provides after sales services, and research and development support services, as well as markets automotive parts in North America and Brazil. The company primarily sells its products to the original equipment manufacturing customers. China Automotive Systems, Inc. was incorporated in 1999 and is headquartered in Jingzhou, the People's Republic of China.

Open

4.21

Mkt cap

131M

Volume

26K

High

4.49

P/E Ratio

3.58

52-wk high

4.97

Low

4.21

Div yield

0.18

52-wk low

3.05

The article highlights the pre-market movements of several consumer discretionary stocks on Friday. Notable gainers include Faraday Future, Zapp Electric Vehicles, Deckers Outdoor, Lanvin Group Holdings, China Automotive Systems, and Naas Technology. On the losing side, Barnes & Noble Education, Phoenix Motor, SRIVARU Holding, Lulus Fashion Lounge, Forza X1, and Jeffs Brands saw significant declines.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 12:07 pm

China Automotive Systems, Inc. (CAAS) reported a Q1 earnings increase with EPS at 27 cents, up from 23 cents year over year, despite a 2% drop in net sales to $139.4 million. The decrease in sales was primarily due to a 12.4% decline in North American sales, notably lower sales to Stellantis N.V. (STLA). However, gross profit and income from operations saw significant increases. The company maintains its full-year revenue guidance at $605.0 million.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 4:29 pm

China Automotive Systems (NASDAQ:CAAS) reported a Q1 EPS of $0.27, up 17.39% from $0.23 YoY, with sales of $139.39M, a decrease of 2.00% from $142.24M YoY.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:03 am

China Automotive Systems, Inc (NASDAQ:CAAS) reported a significant increase in its fourth-quarter FY23 sales, with a 23.6% growth year-on-year to $159.20 million. The company's gross profit margin expanded by 240 basis points to 21.8%, and its gross profit rose by 38.8% to $34.7 million. Operating income for the quarter was $13.6 million, compared to an operating loss of $(2.6) million in the same quarter of the previous year. Net income attributable to common shareholders increased by 153.5% to $10.9 million. The company expects FY24 revenue of $605 million, above the estimate of $593.11 million. CAAS shares surged 7.12% to $3.61 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 1:28 pm

China Automotive (CAAS) shares surged following the company's announcement of its FY24 revenue guidance, which exceeded consensus estimates. This positive outlook indicates strong future performance and potential growth, attracting investor interest.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:21 am

China Automotive Systems projects its FY24 revenue to be $605M, surpassing the estimated $593.11M.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 10:07 am

China Automotive Systems (NASDAQ:CAAS) reported a significant increase in Q4 earnings per share, rising 157.14% to $0.36 from $0.14 YoY. Sales also saw a 23.60% increase to $159.20M from $128.80M YoY.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 10:04 am

Earnings reports for March 28, 2024, include a mix of expected profits and losses across various sectors. Notable companies like Walgreens Boots Alliance and MSC Industrial Direct Co anticipate earnings, while others like Shimmick and Affimed project losses. The diversity of industries, from healthcare to technology and finance, highlights the varied performance within the market.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 9:24 am

Benzinga Insights identifies 5 value stocks in the consumer cyclical sector based on low P/E ratios, indicating potential undervaluation. The stocks include China Automotive Systems (CAAS), Jakks Pacific (JAKK), Aptiv (APTV), Honda Motor Co (HMC), and Guess (GES), each showing varied performance in earnings per share and dividend yields.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 2:43 pm

In Tuesday's after-market session, several consumer discretionary stocks showed notable movements. EpicQuest Education Group (EEIQ) and Foresight Autonomous (FRSX) were among the top gainers, while Interactive Strength (TRNR) and Luminar Technologies (LAZR) led the losers. Notably, companies like Coupang (CPNG), Luminar Technologies (LAZR), Urban Outfitters (URBN), Lincoln Educational Servs (LINC), and Big 5 Sporting Goods (BGFV) released their Q4 earnings, influencing their stock movements.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 9:31 pm

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