Tata Motors (TTM) Trading Up 5.6% Following Better-Than-Expected Earnings

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Shares of Tata Motors Limited (NYSE:TTM) rose 5.6% on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $13.50 and last traded at $13.10. Approximately 2,523,194 shares traded hands during trading, an increase of 52% from the average daily volume of 1,658,694 shares. The stock had previously closed at $12.40.

The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $12.38 billion for the quarter, compared to the consensus estimate of $12.20 billion. Tata Motors had a positive return on equity of 3.13% and a negative net margin of 8.55%.

TTM has been the topic of a number of research analyst reports. Zacks Investment Research raised Tata Motors from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Bank of America downgraded Tata Motors from a “buy” rating to a “neutral” rating in a report on Friday, February 8th. Nomura reaffirmed a “neutral” rating on shares of Tata Motors in a report on Friday, February 8th. Finally, Deutsche Bank reaffirmed a “hold” rating on shares of Tata Motors in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.00.

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Tata Motors by 28.5% during the first quarter. Nordea Investment Management AB now owns 10,092 shares of the company’s stock valued at $127,000 after purchasing an additional 2,237 shares in the last quarter. Balentine LLC lifted its holdings in shares of Tata Motors by 59.9% during the first quarter. Balentine LLC now owns 2,144 shares of the company’s stock valued at $27,000 after purchasing an additional 803 shares in the last quarter. Natixis lifted its holdings in shares of Tata Motors by 82.2% during the first quarter. Natixis now owns 293,984 shares of the company’s stock valued at $3,610,000 after purchasing an additional 132,637 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Tata Motors by 20.3% during the first quarter. Renaissance Technologies LLC now owns 4,924,900 shares of the company’s stock valued at $61,857,000 after purchasing an additional 829,800 shares in the last quarter. Finally, Trexquant Investment LP increased its position in Tata Motors by 83.0% during the first quarter. Trexquant Investment LP now owns 26,890 shares of the company’s stock valued at $338,000 after acquiring an additional 12,200 shares during the last quarter. 7.51% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $8.62 billion, a P/E ratio of 5.35, a price-to-earnings-growth ratio of -2.70 and a beta of 1.61. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 0.75.

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Tata Motors Company Profile (NYSE:TTM)

Tata Motors Limited designs, manufactures, and sells a range of automotive vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers cars, sports vehicles, trucks, buses, and defence vehicles, as well as related spare parts and accessories. It also manufactures engines for industrial and marine applications; aggregates, such as axles and transmissions for commercial vehicles; and factory automation equipment.

See Also: Fundamental Analysis

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