GDS (NASDAQ:GDS) Issues Earnings Results, Beats Estimates By $0.07 EPS

GDS (NASDAQ:GDS) announced its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07, Briefing.com reports. GDS had a negative return on equity of 9.10% and a negative net margin of 39.96%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the company posted ($0.32) earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. GDS updated its FY 2024 guidance to EPS.

GDS Price Performance

GDS stock traded down $3.05 during midday trading on Tuesday, reaching $20.44. 2,036,108 shares of the stock traded hands, compared to its average volume of 1,591,214. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.30. The stock has a market cap of $3.89 billion, a P/E ratio of -6.43 and a beta of 0.23. GDS has a 12 month low of $5.01 and a 12 month high of $24.74. The stock’s fifty day moving average is $20.91 and its 200-day moving average is $14.46.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GDS. Bank of America increased their price target on shares of GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Nomura Securities upgraded GDS to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada raised their price objective on GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.29.

GDS Company Profile

GDS Holdings Limited, together with its subsidiaries, develops and operates data centers in the People's Republic of China. The company provides colocation services comprising critical facilities space, customer-available power, racks, and cooling; managed hosting services, including business continuity and disaster recovery, network management, data storage, system security, operating system, database, and server middleware services; managed cloud services; and consulting services.