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

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) shares gapped down prior to trading 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 $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.04 by ($1.85). The company had revenue of $609.87 million for 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 business also recently declared a -- dividend, which was paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th were given a $0.3268 dividend. The ex-dividend date was Tuesday, April 8th. This represents a yield of 1.4%. MINISO Group's dividend payout ratio is presently 56.76%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MNSO shares. HSBC began coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They set a "buy" rating and a $29.30 price objective on the stock. JPMorgan Chase & Co. raised shares of MINISO Group from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $15.00 to $22.00 in a research report on Tuesday, March 25th. Finally, Hsbc Global Res raised shares of MINISO Group to a "strong-buy" rating in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.03.

Institutional Trading of MINISO Group

Large investors have recently made changes to their positions in the stock. KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its holdings in MINISO Group by 76.6% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company's stock valued at $219,835,000 after buying an additional 3,992,300 shares in the last quarter. HCEP Management Ltd purchased a new position in shares of MINISO Group during the fourth quarter worth approximately $40,613,000. MY.Alpha Management HK Advisors Ltd increased its position in shares of MINISO Group by 37.5% during the fourth quarter. MY.Alpha Management HK Advisors Ltd now owns 554,964 shares of the company's stock worth $13,258,000 after acquiring an additional 151,364 shares during the period. Serenity Capital Management PTE. LTD. bought a new stake in shares of MINISO Group during the first quarter valued at approximately $8,569,000. Finally, Candriam S.C.A. purchased a new stake in shares of MINISO Group in the fourth quarter valued at approximately $9,986,000. 17.16% of the stock is owned by hedge funds and other institutional investors.

MINISO Group Stock Performance

The firm has a 50 day moving average of $18.09 and a 200-day moving average of $20.64. The company has a market cap of $5.72 billion, a P/E ratio of 16.49, a PEG ratio of 0.80 and a beta of 0.18. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.

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.