MINISO Group (NYSE:MNSO) Releases Earnings Results, Misses Estimates By $1.52 EPS

Key Points

• MINISO Group reported earnings per share (EPS) of $0.22, missing analysts' expectations of $1.74 by $1.52, with quarterly revenue at $692.93 million compared to an estimate of $4.85 billion.
• Despite the earnings miss, MINISO Group's stock rose by 6.7% on the trading day following the announcement, opening at $22.23.
• Analysts have mixed ratings on MINISO Group, with two considering it a Strong Buy and an average price target of $24.86, despite recent brokerage upgrades and downgrades.

MINISO Group (NYSE:MNSO - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($1.52), reports. The company had revenue of $692.93 million for the quarter, compared to analysts' expectations of $4.85 billion. MINISO Group had a net margin of 12.63% and a return on equity of 22.60%.

MINISO Group Price Performance

MNSO traded down $1.22 during trading on Wednesday, hitting $24.77. The company's stock had a trading volume of 850,217 shares, compared to its average volume of 1,170,360. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.63 and a beta of 0.16. The business's fifty day simple moving average is $19.22 and its 200 day simple moving average is $19.01. MINISO Group has a twelve month low of $12.51 and a twelve month high of $27.71. The company has a current ratio of 1.92, a quick ratio of 1.54 and a debt-to-equity ratio of 0.71.

MINISO Group Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.2896 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a dividend yield of 230.0%. MINISO Group's dividend payout ratio is currently 58.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MNSO. Vident Advisory LLC grew its position in shares of MINISO Group by 18.0% in the second quarter. Vident Advisory LLC now owns 29,127 shares of the company's stock valued at $531,000 after purchasing an additional 4,447 shares during the period. Balyasny Asset Management L.P. bought a new position in MINISO Group in the 2nd quarter worth approximately $3,803,000. Quantinno Capital Management LP boosted its stake in MINISO Group by 72.8% during the second quarter. Quantinno Capital Management LP now owns 34,806 shares of the company's stock valued at $634,000 after buying an additional 14,665 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in MINISO Group by 37.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after buying an additional 608 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of MINISO Group by 0.4% during the second quarter. American Century Companies Inc. now owns 133,224 shares of the company's stock worth $2,427,000 after acquiring an additional 595 shares in the last quarter. 17.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MNSO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $20.00 price target on shares of MINISO Group in a research report on Tuesday, May 27th. Bank of America upgraded shares of MINISO Group from an "underperform" rating to a "neutral" rating in a research note on Thursday, August 21st. Finally, Jefferies Financial Group upgraded shares of MINISO Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $18.50 to $26.20 in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $24.86.

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.