MINISO Group (NYSE:MNSO) Shares Gap Down on Disappointing Earnings

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report)'s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. 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 $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($1.85). The company had revenue of $609.87 million during the quarter, compared to analysts' expectations of $4.35 billion. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%.

MINISO Group Dividend Announcement

The company also recently declared a -- dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.3268 per share. This represents a yield of 1.4%. The ex-dividend date was Tuesday, April 8th. MINISO Group's dividend payout ratio (DPR) is currently 56.76%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MNSO. JPMorgan Chase & Co. upgraded shares of MINISO Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $15.00 to $22.00 in a research report on Tuesday, March 25th. Hsbc Global Res upgraded MINISO Group to a "strong-buy" rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $20.00 target price on shares of MINISO Group in a research note on Tuesday. Finally, HSBC initiated coverage on MINISO Group in a research note on Wednesday, February 26th. They issued a "buy" rating and a $29.30 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MINISO Group has a consensus rating of "Moderate Buy" and a consensus price target of $24.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNSO. SBI Securities Co. Ltd. bought a new position in MINISO Group in the fourth quarter worth $31,000. Brooklyn Investment Group lifted its position in MINISO Group by 579.4% during the 1st quarter. Brooklyn Investment Group now owns 1,651 shares of the company's stock valued at $31,000 after acquiring an additional 1,408 shares during the period. Barclays PLC bought a new stake in MINISO Group during the fourth quarter worth about $36,000. EverSource Wealth Advisors LLC grew its holdings in MINISO Group by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company's stock worth $39,000 after purchasing an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of MINISO Group during the first quarter valued at approximately $74,000. Institutional investors own 17.16% of the company's stock.

MINISO Group Stock Down 0.5%

The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The company's fifty day moving average price is $17.95 and its 200-day moving average price is $20.61. The stock has a market capitalization of $5.42 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 0.80 and a beta of 0.18.

MINISO Group Company Profile

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.