GDS (NASDAQ:GDS) announced its quarterly earnings results on Tuesday. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05), Morningstar.com reports. The business had revenue of $891.80 million for the quarter, compared to analyst estimates of $888.42 million. GDS had a negative net margin of 15.41% and a negative return on equity of 7.56%. The company’s quarterly revenue was up 58.6% on a year-over-year basis. During the same period last year, the firm earned ($0.71) earnings per share. GDS updated its FY 2019 guidance to EPS.
Shares of GDS stock opened at $34.82 on Thursday. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -68.27 and a beta of 3.18. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.87 and a current ratio of 0.87. GDS has a fifty-two week low of $18.59 and a fifty-two week high of $46.18.
A number of research analysts have weighed in on GDS shares. BidaskClub cut shares of GDS from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Credit Suisse Group set a $42.00 price target on shares of GDS and gave the company a “buy” rating in a research report on Tuesday, March 19th. Zacks Investment Research cut shares of GDS from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, TheStreet raised shares of GDS from a “d” rating to a “c-” rating in a research report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.75.
A number of hedge funds have recently made changes to their positions in GDS. Singapore Technologies Telemedia Pte Ltd lifted its position in shares of GDS by 88.7% during the first quarter. Singapore Technologies Telemedia Pte Ltd now owns 13,560,955 shares of the company’s stock worth $483,990,000 after purchasing an additional 6,373,134 shares in the last quarter. American Century Companies Inc. lifted its position in shares of GDS by 94.4% during the first quarter. American Century Companies Inc. now owns 5,617,248 shares of the company’s stock worth $200,480,000 after purchasing an additional 2,728,377 shares in the last quarter. BlackRock Inc. lifted its position in shares of GDS by 7.9% during the first quarter. BlackRock Inc. now owns 4,227,874 shares of the company’s stock worth $150,893,000 after purchasing an additional 309,771 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of GDS by 4.2% during the first quarter. Federated Investors Inc. PA now owns 2,455,000 shares of the company’s stock worth $87,619,000 after purchasing an additional 100,000 shares in the last quarter. Finally, FMR LLC lifted its position in shares of GDS by 63.9% during the fourth quarter. FMR LLC now owns 2,361,844 shares of the company’s stock worth $54,535,000 after purchasing an additional 920,389 shares in the last quarter. 54.07% of the stock is currently owned by hedge funds and other institutional investors.
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GDS Holdings Limited, together with its subsidiaries, designs, builds, and operates data centers in the People's Republic of China. The company provides colocation, managed hosting, and managed cloud services, as well as consulting services. Its data centers service customers that primarily operate in the Internet and banking industries in Shanghai and Beijing municipalities; and Jiangsu, Guangdong, Sichuan, and Hebei Provinces.
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