Chindata Group Holdings Limited (NASDAQ:CD) Expected to Post Quarterly Sales of $137.93 Million

Brokerages forecast that Chindata Group Holdings Limited (NASDAQ:CD – Get Rating) will post sales of $137.93 million for the current quarter, Zacks reports. Two analysts have provided estimates for Chindata Group’s earnings. The highest sales estimate is $138.10 million and the lowest is $137.76 million. Chindata Group posted sales of $98.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 40.5%. The firm is scheduled to issue its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Chindata Group will report full-year sales of $643.62 million for the current financial year, with estimates ranging from $636.16 million to $649.89 million. For the next fiscal year, analysts anticipate that the company will post sales of $886.11 million, with estimates ranging from $854.18 million to $907.24 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Chindata Group.

Chindata Group (NASDAQ:CD – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. Chindata Group had a return on equity of 3.18% and a net margin of 11.11%. The business had revenue of $122.67 million during the quarter, compared to analysts’ expectations of $119.17 million. During the same quarter in the previous year, the firm earned ($0.01) EPS.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Chindata Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 17th. Credit Suisse Group raised Chindata Group from a “neutral” rating to an “outperform” rating and set a $8.30 price objective on the stock in a report on Monday, March 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Chindata Group presently has an average rating of “Hold” and a consensus target price of $10.27.

Shares of CD opened at $6.62 on Friday. Chindata Group has a 12-month low of $3.75 and a 12-month high of $17.18. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 47.29 and a beta of 1.77. The stock’s 50-day moving average price is $6.07 and its 200 day moving average price is $6.41.

Several hedge funds and other institutional investors have recently made changes to their positions in CD. Goldman Sachs Group Inc. boosted its holdings in shares of Chindata Group by 5.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,382,133 shares of the company’s stock worth $34,015,000 after acquiring an additional 278,887 shares during the period. State Street Corp raised its position in Chindata Group by 12.8% during the first quarter. State Street Corp now owns 1,757,447 shares of the company’s stock valued at $11,107,000 after purchasing an additional 199,307 shares in the last quarter. Ethic Inc. acquired a new position in Chindata Group during the first quarter valued at approximately $256,000. Invesco Ltd. raised its position in Chindata Group by 103.9% during the first quarter. Invesco Ltd. now owns 409,950 shares of the company’s stock valued at $2,591,000 after purchasing an additional 208,882 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Chindata Group by 2.3% during the first quarter. Hsbc Holdings PLC now owns 1,010,431 shares of the company’s stock valued at $6,340,000 after purchasing an additional 22,769 shares in the last quarter. Institutional investors own 19.89% of the company’s stock.

About Chindata Group (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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