Chindata Group (NASDAQ:CD) Posts Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Chindata Group (NASDAQ:CD) released its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.25, Fidelity Earnings reports. Chindata Group had a negative return on equity of 0.52% and a negative net margin of 3.01%. During the same period in the prior year, the company earned ($0.08) earnings per share.

Shares of Chindata Group stock traded up $0.20 on Thursday, reaching $9.70. 1,919,332 shares of the company’s stock were exchanged, compared to its average volume of 1,404,409. The company has a market capitalization of $3.54 billion, a P/E ratio of -161.67 and a beta of 3.25. Chindata Group has a 52 week low of $7.75 and a 52 week high of $27.47. The firm’s 50-day moving average is $9.65 and its two-hundred day moving average is $12.28. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.16 and a current ratio of 4.16.

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in shares of Chindata Group by 91.7% during the third quarter. Royal Bank of Canada now owns 32,211 shares of the company’s stock worth $271,000 after purchasing an additional 15,409 shares during the period. Bank of New York Mellon Corp raised its position in shares of Chindata Group by 10.2% during the third quarter. Bank of New York Mellon Corp now owns 78,075 shares of the company’s stock worth $657,000 after purchasing an additional 7,219 shares during the period. Morgan Stanley raised its position in shares of Chindata Group by 2,045.5% during the second quarter. Morgan Stanley now owns 78,203 shares of the company’s stock worth $1,180,000 after purchasing an additional 74,558 shares during the period. Invesco Ltd. raised its position in shares of Chindata Group by 124.6% during the third quarter. Invesco Ltd. now owns 150,278 shares of the company’s stock worth $1,264,000 after purchasing an additional 83,354 shares during the period. Finally, UBS Group AG raised its position in shares of Chindata Group by 78.9% during the third quarter. UBS Group AG now owns 360,209 shares of the company’s stock worth $3,030,000 after purchasing an additional 158,876 shares during the period. Hedge funds and other institutional investors own 14.40% of the company’s stock.

CD has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Chindata Group in a report on Wednesday, August 18th. They issued an “overweight” rating and a $18.00 target price on the stock. Zacks Investment Research upgraded Chindata Group from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Chindata Group currently has a consensus rating of “Buy” and a consensus price target of $18.35.

About Chindata Group

Chindata Group Holdings Limited provides carrier-neutral hyper scale data center solutions in China, India, and Southeast Asia. It offers artificial intelligence, cloud computing, smart cities and homes, online entertainment, and other on-demand services. The company also provides internet data center colocation and rental services; and technical and consulting services.

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Earnings History for Chindata Group (NASDAQ:CD)

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