NEW YORK (TheStreet) -- Shares of CNinsure Inc. (CISG) are higher by 6.87% to $7.47 in after-hours trading on Monday, following the company's 2014 second quarter financial results, which showed an increase in net income to $8.9 million, or 18 cents per share, compared to $3.4 million, or 7 cents per share.
The China-based insurance intermediary company posted a 20.8% increase in net revenue for the most recent quarter to $82 million, from $68.6 million for the 2013 second quarter.
"Our insurance brokerage business and claims adjusting business recorded impressive growth year-over-year while the life insurance agency business has finally yielded positive growth both year-over-year and quarter-over-quarter, after two years of negative growth," company CEO Chunlin Wang said.
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Separately, TheStreet Ratings team rates CNINSURE INC -ADS as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:"We rate CNINSURE INC -ADS (CISG) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins." You can view the full analysis from the report here: CISG Ratings Report
CISG data by YCharts
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