GDS (NASDAQ:GDS) Releases Quarterly Earnings Results, Beats Expectations 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 during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the business earned ($0.32) earnings per share. GDS’s quarterly revenue was up 17.7% on a year-over-year basis. GDS updated its FY 2024 guidance to EPS.

GDS Stock Down 13.0 %

Shares of NASDAQ GDS traded down $3.05 during mid-day trading on Tuesday, reaching $20.44. 2,036,108 shares of the company were exchanged, compared to its average volume of 1,591,214. The firm has a 50-day moving average of $20.91 and a 200 day moving average of $14.46. GDS has a 1 year low of $5.01 and a 1 year high of $24.74. 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 price-to-earnings ratio of -6.43 and a beta of 0.23.

Analyst Upgrades and Downgrades

GDS has been the subject of several research reports. Bank of America upped their target price on GDS from $12.40 to $22.40 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Nomura Securities upgraded GDS to a “strong-buy” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada increased their target price on shares of GDS from $14.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.29.

About GDS

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.