Zacks Investment Research downgraded shares of Qudian (NYSE:QD) from a strong-buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.
According to Zacks, “Qudian Inc. provides online consumer finance platforms primarily in the Peoples Republic of China. The Company offers cash credit products which include funds in digital form and merchandise credit products. Qudian Inc. is headquartered in Beijing, China. “
Other research analysts also recently issued research reports about the stock. TheStreet raised shares of Qudian from a d+ rating to a c- rating in a research note on Thursday, April 18th. Morgan Stanley raised shares of Qudian from an equal weight rating to an overweight rating and set a $7.00 target price for the company in a research note on Monday, April 8th. China Renaissance Securities reissued a hold rating and issued a $8.00 target price on shares of Qudian in a research note on Tuesday, May 14th. Finally, Nomura reissued a neutral rating on shares of Qudian in a research note on Wednesday, February 27th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $12.85.
NYSE:QD opened at $7.44 on Tuesday. Qudian has a 52-week low of $4.00 and a 52-week high of $10.37. The firm has a market cap of $2.56 billion, a PE ratio of 6.58 and a beta of 1.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.91 and a quick ratio of 2.91.
Qudian (NYSE:QD) last announced its earnings results on Monday, March 18th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. Qudian had a net margin of 38.69% and a return on equity of 28.87%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, analysts expect that Qudian will post 1.75 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Qudian by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,033,111 shares of the company’s stock worth $10,593,000 after buying an additional 138,540 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Qudian in the 4th quarter worth $29,000. Stevens Capital Management LP purchased a new position in shares of Qudian in the 4th quarter worth $142,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of Qudian by 14.4% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 69,830 shares of the company’s stock worth $300,000 after buying an additional 8,810 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Qudian in the 4th quarter worth $58,000. Institutional investors own 11.84% of the company’s stock.
Qudian Inc provides online small consumer credit products in the People's Republic of China. It uses big data-enabled technologies, including artificial intelligence and machine learning to transform the consumer finance experience. The company offers small credit products, such as cash credit products; merchandise credit products to finance borrowers' direct purchase of merchandise offered on its marketplace on installment basis; and budget auto financing products.
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