Chindata Group (NASDAQ:CD – Get Rating) issued its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01), reports. The firm had revenue of $145.22 million during the quarter, compared to analysts’ expectations of $137.93 million. Chindata Group had a return on equity of 3.18% and a net margin of 11.11%. Chindata Group updated its FY 2022 guidance to EPS.
CD stock traded up $0.12 during midday trading on Friday, hitting $7.24. The company had a trading volume of 2,446,414 shares, compared to its average volume of 2,280,912. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.35. Chindata Group has a 52 week low of $3.75 and a 52 week high of $17.18. The stock’s 50 day moving average price is $6.14 and its 200 day moving average price is $6.29. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 51.72 and a beta of 1.77.
A number of hedge funds have recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec lifted its position in Chindata Group by 10.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,100 shares of the company’s stock valued at $127,000 after purchasing an additional 1,400 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Chindata Group by 13.5% in the third quarter. The Manufacturers Life Insurance Company now owns 16,000 shares of the company’s stock valued at $135,000 after purchasing an additional 1,900 shares during the last quarter. US Bancorp DE bought a new position in shares of Chindata Group during the third quarter valued at approximately $26,000. PNC Financial Services Group Inc. raised its holdings in shares of Chindata Group by 116.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the company’s stock valued at $42,000 after acquiring an additional 3,616 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Chindata Group by 18.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,548 shares of the company’s stock valued at $162,000 after acquiring an additional 3,753 shares in the last quarter. Hedge funds and other institutional investors own 19.89% of the company’s stock.
Several analysts have issued reports on the company. Credit Suisse Group raised Chindata Group from a “neutral” rating to an “outperform” rating and set a $8.30 target price for the company in a research note on Monday, March 7th. Zacks Investment Research lowered Chindata Group from a “hold” rating to a “sell” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.27.
Chindata Group Company Profile (Get Rating)
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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Source: defenseworld.net
