Analysts forecast that Cango Inc. (NYSE:CANG) will announce earnings of $0.14 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Cango’s earnings. Cango reported earnings per share of $0.11 during the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The business is scheduled to report its next quarterly earnings results on Monday, March 22nd.
According to Zacks, analysts expect that Cango will report full year earnings of $0.30 per share for the current fiscal year, with EPS estimates ranging from $0.24 to $0.36. For the next fiscal year, analysts forecast that the business will post earnings of $0.40 per share, with EPS estimates ranging from $0.38 to $0.41. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Cango.
Cango (NYSE:CANG) last posted its quarterly earnings data on Sunday, November 22nd. The company reported $11.87 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $11.80. Cango had a net margin of 138.90% and a return on equity of 33.47%. The company had revenue of $64.06 million during the quarter.
Separately, ValuEngine downgraded Cango from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 30th.
CANG stock opened at $7.30 on Thursday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.10. Cango has a one year low of $4.20 and a one year high of $14.00. The firm has a market capitalization of $1.11 billion, a PE ratio of 3.95 and a beta of 1.58. The firm has a 50-day moving average of $7.67 and a two-hundred day moving average of $6.07.
A hedge fund recently raised its stake in Cango stock. Virtu Financial LLC grew its holdings in Cango Inc. (NYSE:CANG) by 30.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,197 shares of the company’s stock after purchasing an additional 3,323 shares during the period. Virtu Financial LLC’s holdings in Cango were worth $79,000 as of its most recent SEC filing. Institutional investors own 24.22% of the company’s stock.
About Cango
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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