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

Chindata Group (NASDAQ:CD) released its quarterly earnings data on Tuesday. The company reported $0.22 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 quarter in the prior year, the business earned ($0.08) earnings per share.

NASDAQ:CD traded up $0.20 during trading on Thursday, reaching $9.70. The company’s stock had a trading volume of 1,919,332 shares, compared to its average volume of 1,404,409. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -161.67 and a beta of 3.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.16 and a current ratio of 4.16. The company has a 50 day simple moving average of $9.71. Chindata Group has a 12 month low of $7.75 and a 12 month high of $27.47.

A number of large investors have recently made changes to their positions in CD. Royal Bank of Canada grew its stake in Chindata Group by 91.7% in the 3rd quarter. Royal Bank of Canada now owns 32,211 shares of the company’s stock valued at $271,000 after purchasing an additional 15,409 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Chindata Group by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 78,075 shares of the company’s stock valued at $657,000 after buying an additional 7,219 shares during the last quarter. Morgan Stanley lifted its position in shares of Chindata Group by 2,045.5% during the 2nd quarter. Morgan Stanley now owns 78,203 shares of the company’s stock valued at $1,180,000 after buying an additional 74,558 shares during the last quarter. Invesco Ltd. lifted its position in shares of Chindata Group by 124.6% during the 3rd quarter. Invesco Ltd. now owns 150,278 shares of the company’s stock valued at $1,264,000 after buying an additional 83,354 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Chindata Group by 78.9% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 14.40% of the company’s stock.

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Chindata Group in a report on Wednesday, August 18th. They set an “overweight” rating and a $18.00 price objective for the company. Zacks Investment Research downgraded Chindata Group from a “buy” rating to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Chindata Group presently has an average rating of “Buy” and a consensus target price of $17.76.

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.

Read More: What are municipal bonds?

Earnings History for Chindata Group (NASDAQ:CD)

Receive News & Ratings for Chindata Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chindata Group and related companies with MarketBeat.com's FREE daily email newsletter.