Phoenix New Media Limited (FENG) Sees Unusually-High Trading Volume After Strong Earnings

Shares of Phoenix New Media Limited (NYSE:FENG) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 347,300 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 377,567 shares.The stock last traded at $5.37 and had previously closed at $5.46.

The information services provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.09. Phoenix New Media Limited had a net margin of 4.39% and a return on equity of 3.00%. The business had revenue of $64.00 million during the quarter, compared to the consensus estimate of $61.20 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year.

A number of brokerages have weighed in on FENG. Macquarie upgraded shares of Phoenix New Media Limited from a “neutral” rating to an “outperform” rating in a research report on Tuesday. BidaskClub lowered shares of Phoenix New Media Limited from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th.

A number of large investors have recently modified their holdings of FENG. JPMorgan Chase & Co. boosted its position in Phoenix New Media Limited by 918.2% during the third quarter. JPMorgan Chase & Co. now owns 24,702 shares of the information services provider’s stock worth $143,000 after purchasing an additional 22,276 shares during the period. State Street Corp boosted its position in Phoenix New Media Limited by 18.7% during the second quarter. State Street Corp now owns 104,261 shares of the information services provider’s stock worth $274,000 after purchasing an additional 16,457 shares during the period. GAM Holding AG bought a new position in Phoenix New Media Limited during the second quarter worth about $395,000. Russell Investments Group Ltd. boosted its position in Phoenix New Media Limited by 106.9% during the third quarter. Russell Investments Group Ltd. now owns 69,544 shares of the information services provider’s stock worth $409,000 after purchasing an additional 35,924 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Phoenix New Media Limited by 52.2% during the second quarter. Dimensional Fund Advisors LP now owns 184,695 shares of the information services provider’s stock worth $486,000 after purchasing an additional 63,378 shares during the period. Hedge funds and other institutional investors own 12.28% of the company’s stock.

The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $385.07, a PE ratio of 42.00 and a beta of 1.13.

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About Phoenix New Media Limited

Phoenix New Media Limited is a media company providing content on an integrated platform across Internet, mobile and television channels in China. The Company enables consumers to access professional news and other information, and upload text and images (UGC) on the Internet and through their mobile devices.

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