GDS (NASDAQ:GDS) Releases Earnings Results, Beats Expectations By $1.56 EPS

GDS (NASDAQ:GDSGet Free Report) announced its quarterly earnings results on Wednesday. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $1.56, FiscalAI reports. The firm had revenue of $426.13 million during the quarter, compared to analyst estimates of $436.44 million. GDS had a return on equity of 8.79% and a net margin of 8.12%.

GDS Stock Down 3.1%

GDS stock opened at $40.41 on Wednesday. The business has a fifty day moving average of $42.70 and a two-hundred day moving average of $39.94. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.60. The firm has a market cap of $7.86 billion, a P/E ratio of 77.71 and a beta of 0.46. GDS has a twelve month low of $22.53 and a twelve month high of $48.61.

Institutional Trading of GDS

A number of hedge funds have recently bought and sold shares of GDS. Royal Bank of Canada lifted its holdings in GDS by 30.7% during the first quarter. Royal Bank of Canada now owns 379,289 shares of the company’s stock worth $9,608,000 after buying an additional 89,059 shares during the period. Advisors Asset Management Inc. purchased a new stake in GDS during the first quarter worth $25,000. NewEdge Advisors LLC acquired a new position in shares of GDS during the first quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of GDS by 113.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,836 shares of the company’s stock worth $56,000 after purchasing an additional 974 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of GDS by 41.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,806 shares of the company’s stock worth $55,000 after purchasing an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 33.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GDS. Wall Street Zen upgraded GDS from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded GDS from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Morgan Stanley reiterated an “overweight” rating and issued a $64.00 price target on shares of GDS in a report on Tuesday, March 17th. Finally, Zacks Research lowered GDS from a “strong-buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.90.

Read Our Latest Stock Analysis on GDS

About GDS

(Get Free Report)

GDS Holdings Limited, founded in 2001 and headquartered in Shanghai, is a leading network-neutral data center services provider in China. The company operates a portfolio of state-of-the-art data center facilities designed to support the mission-critical IT infrastructure of cloud service providers, internet enterprises, financial institutions, and government entities. GDS was among the first Chinese providers to offer high-density colocation solutions, catering to customers with demanding computing and storage requirements.

GDS specializes in delivering scalable colocation, cross-connect, and interconnection services within its facilities, enabling clients to establish high-speed, low-latency connections to major cloud platforms and internet exchange points.

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Earnings History for GDS (NASDAQ:GDS)

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