(WATG) Wonder Auto Technologies Incorporated – Analysts Expect 20% Earnings Growth
Wonder Auto Technologies, Inc. (WATG), the Chinese-based automotive parts manufacturer, has gotten a little cheaper since I last reviewed it in June 2009. The company has a PEG ratio of just 0.54.
Analysts expect earnings growth of 20.20% in 2009. The Zacks Consensus Estimate has been holding at 84 cents per share for the last 90 days.
Wonder Auto is expected to report fourth quarter and full year results on Feb 11. In a press release on Jan 28, the company said it expects 2009 results to exceed its previous guidance of sales of $208 million.
The company was also optimistic about 2010. Wonder Auto said that subsidiaries were expanding their capacity and upgrading manufacturing processes in order to keep up with increasing customer demand in the first quarter of 2010.
As result of the company’s statement, analysts are turning more bullish on Wonder Auto. In the last 7 days, one estimate has moved higher for 2010 as the Zacks Consensus rose to 93 cents from 92 cents. Earnings growth is projected at 10.70%.
Wonder Auto is now a Zacks #2 Rank (buy) stock. It has attractive valuations. It is trading at just 10x forward earnings. Wonder Auto has a stellar 1-year return on equity of 18.49% which easily surpasses the industry average of 5.9%.
Tracey Ryniec is the Value Stock Strategist for Zacks.com. She is also the Editor in charge of the market-beating Zacks Value Trader service.
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