$0.04 Earnings Per Share Expected for Cango Inc – (NYSE:CANG) This Quarter

Wall Street brokerages expect Cango Inc – (NYSE:CANG) to report earnings per share of $0.04 for the current quarter, Zacks reports. Zero analysts have provided estimates for Cango’s earnings. Cango reported earnings per share of $0.11 in the same quarter last year, which suggests a negative year-over-year growth rate of 63.6%. The firm is expected to issue its next quarterly earnings report on Tuesday, September 1st.

According to Zacks, analysts expect that Cango will report full-year earnings of $0.29 per share for the current fiscal year, with EPS estimates ranging from $0.22 to $0.36. For the next year, analysts forecast that the business will post earnings of $0.40 per share, with EPS estimates ranging from $0.39 to $0.41. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Cango.

Cango (NYSE:CANG) last announced its earnings results on Wednesday, May 27th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $34.74 million during the quarter. Cango had a net margin of 19.35% and a return on equity of 4.94%.

Several brokerages recently issued reports on CANG. Zacks Investment Research upgraded shares of Cango from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. TheStreet raised shares of Cango from a “d+” rating to a “c-” rating in a report on Thursday, July 23rd.

Shares of Cango stock traded up $0.02 during trading hours on Thursday, reaching $5.57. 400 shares of the company’s stock were exchanged, compared to its average volume of 32,799. The company has a 50 day moving average of $5.21 and a two-hundred day moving average of $5.95. Cango has a fifty-two week low of $4.20 and a fifty-two week high of $9.82. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.09. The stock has a market cap of $855.00 million, a P/E ratio of 22.40 and a beta of 1.24.

An institutional investor recently raised its position in Cango stock. UBS Group AG boosted its position in Cango Inc – (NYSE:CANG) by 103.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,892 shares of the company’s stock after acquiring an additional 3,002 shares during the quarter. UBS Group AG’s holdings in Cango were worth $33,000 at the end of the most recent reporting period. Institutional investors own 24.20% of the company’s stock.

Cango Company Profile

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

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