GDS (GDS) Cut to “Buy” at BidaskClub

BidaskClub downgraded shares of GDS (NASDAQ:GDS) from a strong-buy rating to a buy rating in a research report released on Thursday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the company. TheStreet upgraded GDS from a d rating to a c- rating in a research note on Wednesday, March 13th. Zacks Investment Research upgraded GDS from a sell rating to a hold rating in a research note on Tuesday, January 15th. Finally, Credit Suisse Group set a $42.00 target price on GDS and gave the stock a buy rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $41.75.

Shares of GDS traded up $0.03 during mid-day trading on Thursday, reaching $38.26. The company’s stock had a trading volume of 488,891 shares, compared to its average volume of 1,134,609. GDS has a 1-year low of $18.59 and a 1-year high of $46.18. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -75.02 and a beta of 3.24. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.05.

GDS (NASDAQ:GDS) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.03). GDS had a negative net margin of 15.41% and a negative return on equity of 7.56%. The business had revenue of $829.52 million during the quarter, compared to analyst estimates of $822.31 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The business’s quarterly revenue was up 64.1% on a year-over-year basis. As a group, analysts expect that GDS will post -0.33 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in GDS by 24.6% during the 3rd quarter. BlackRock Inc. now owns 3,211,408 shares of the company’s stock worth $112,816,000 after acquiring an additional 634,446 shares during the period. JPMorgan Chase & Co. increased its stake in GDS by 79,592.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 90,053 shares of the company’s stock worth $3,164,000 after acquiring an additional 89,940 shares during the period. Jane Street Group LLC bought a new position in GDS during the 3rd quarter worth $342,000. Legal & General Group Plc increased its stake in GDS by 95.4% during the 3rd quarter. Legal & General Group Plc now owns 239,024 shares of the company’s stock worth $8,397,000 after acquiring an additional 116,670 shares during the period. Finally, Vanguard Group Inc. increased its stake in GDS by 1,030.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,638,232 shares of the company’s stock worth $57,551,000 after acquiring an additional 1,493,362 shares during the period. Institutional investors own 47.04% of the company’s stock.

About GDS

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.

See Also: What are momentum indicators and what do they show?

Analyst Recommendations for GDS (NASDAQ:GDS)

Receive News & Ratings for GDS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GDS and related companies with MarketBeat.com's FREE daily email newsletter.