Zacks: Analysts Anticipate Cango Inc. (NYSE:CANG) Will Post Earnings of $0.07 Per Share

Analysts expect Cango Inc. (NYSE:CANG) to post $0.07 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have issued estimates for Cango’s earnings. Cango posted earnings per share of $1.61 during the same quarter last year, which suggests a negative year over year growth rate of 95.7%. The business is expected to report its next earnings results on Thursday, March 10th.

On average, analysts expect that Cango will report full-year earnings of $0.42 per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will report earnings of $0.46 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Cango.

Cango (NYSE:CANG) last announced its quarterly earnings results on Sunday, November 21st. The company reported ($2.72) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($3.07). Cango had a return on equity of 48.38% and a net margin of 99.11%. During the same quarter in the prior year, the business earned $1.73 earnings per share.

Separately, Zacks Investment Research lowered shares of Cango from a “hold” rating to a “sell” rating in a research note on Wednesday, September 15th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in shares of Cango by 95.7% in the first quarter. Morgan Stanley now owns 5,236 shares of the company’s stock worth $44,000 after buying an additional 2,560 shares during the last quarter. Royal Bank of Canada purchased a new position in Cango during the first quarter valued at approximately $62,000. Schonfeld Strategic Advisors LLC purchased a new position in Cango during the third quarter valued at approximately $63,000. Envestnet Asset Management Inc. purchased a new position in Cango during the second quarter valued at approximately $68,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Cango during the second quarter valued at approximately $76,000. 24.18% of the stock is currently owned by institutional investors.

Shares of CANG stock traded down $0.14 during trading hours on Thursday, reaching $3.65. The company had a trading volume of 545,707 shares, compared to its average volume of 554,489. The business has a fifty day moving average of $4.26. Cango has a one year low of $3.33 and a one year high of $19.60. The firm has a market capitalization of $547.04 million, a price-to-earnings ratio of 1.01 and a beta of 1.14. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.11.

About Cango

Cango, Inc (Cayman island) is a holding company, which engages in the development and operation of automotive transaction service platform for connecting dealers, financial institutions, and car buyers. Is services cover each key component of the automotive transaction value chain, including pre-sale automobile trading solutions, during-sale automotive financing facilitation services, and post-sale after-market services facilitation.

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