BEST (NYSE:BSTI) announced its quarterly earnings data on Friday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.05 billion. BEST updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of NYSE BSTI traded down $0.75 during trading on Friday, hitting $5.19. 2,470,618 shares of the company traded hands, compared to its average volume of 1,179,669. BEST has a 1 year low of $4.67 and a 1 year high of $13.54. The stock has a market capitalization of $2.20 billion, a PE ratio of -4.09 and a beta of -1.80.
Several hedge funds and other institutional investors have recently made changes to their positions in BSTI. Cubist Systematic Strategies LLC purchased a new stake in BEST during the 1st quarter worth $110,000. Dynamic Technology Lab Private Ltd purchased a new stake in BEST during the 1st quarter worth $115,000. NumerixS Investment Technologies Inc purchased a new stake in BEST during the 2nd quarter worth $159,000. Guggenheim Capital LLC purchased a new stake in BEST during the 1st quarter worth $207,000. Finally, SG Americas Securities LLC boosted its position in BEST by 64.8% during the 2nd quarter. SG Americas Securities LLC now owns 20,758 shares of the company’s stock worth $254,000 after purchasing an additional 8,161 shares during the period. 18.57% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on BSTI. Zacks Investment Research raised shares of BEST from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Macquarie raised shares of BEST from a “neutral” rating to an “outperform” rating and set a $8.00 price objective for the company in a research note on Wednesday, September 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered their price objective on shares of BEST from $14.80 to $12.00 and set an “overweight” rating for the company in a research note on Friday, August 10th. Finally, KeyCorp lowered their price objective on shares of BEST from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $11.40.
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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