MINISO Group (NYSE:MNSO) Shares Gap Down Following Weak Earnings

MINISO Group Holding Limited (NYSE:MNSO) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $22.19, but opened at $18.25. MINISO Group shares last traded at $18.36, with a volume of 2,853,736 shares traded.

The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $2.61 by ($2.25). The firm had revenue of $646.49 million for the quarter, compared to the consensus estimate of $4.82 billion. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%.

MINISO Group Announces Dividend

The company also recently declared a — dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 8th were issued a dividend of $0.3268 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, April 8th. MINISO Group’s dividend payout ratio (DPR) is currently 53.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MNSO. JPMorgan Chase & Co. upgraded MINISO Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $22.00 in a report on Tuesday, March 25th. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. Finally, HSBC initiated coverage on MINISO Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MINISO Group presently has an average rating of “Moderate Buy” and a consensus target price of $26.03.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in shares of MINISO Group in the 4th quarter worth about $31,000. Barclays PLC bought a new position in shares of MINISO Group in the 4th quarter worth about $36,000. EverSource Wealth Advisors LLC boosted its holdings in shares of MINISO Group by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock worth $39,000 after buying an additional 734 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of MINISO Group by 579.4% during the 1st quarter. Brooklyn Investment Group now owns 1,651 shares of the company’s stock worth $31,000 after buying an additional 1,408 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of MINISO Group during the 1st quarter worth approximately $74,000. 17.16% of the stock is owned by institutional investors.

MINISO Group Price Performance

The stock has a market capitalization of $5.72 billion, a P/E ratio of 16.49, a PEG ratio of 0.80 and a beta of 0.18. The business has a fifty day simple moving average of $18.09 and a 200-day simple moving average of $20.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14.

About MINISO Group

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.