Noah (NYSE:NOAH – Get Free Report) announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th, RTT News reports. The company plans to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Noah Stock Down 4.5 %
NYSE:NOAH opened at $7.36 on Thursday. Noah has a 52 week low of $7.14 and a 52 week high of $15.44. The stock has a market capitalization of $486.44 million, a PE ratio of 4.11 and a beta of 0.76. The stock’s 50-day moving average price is $8.20 and its 200-day moving average price is $10.70.
Noah (NYSE:NOAH – Get Free Report) last posted its earnings results on Wednesday, May 29th. The asset manager reported $0.32 EPS for the quarter. The firm had revenue of $89.96 million for the quarter. Noah had a return on equity of 9.08% and a net margin of 31.26%. Sell-side analysts expect that Noah will post 1.37 earnings per share for the current fiscal year.
Noah Announces Dividend
Analyst Upgrades and Downgrades
A number of research firms have recently commented on NOAH. JPMorgan Chase & Co. cut Noah from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $13.00 in a research report on Thursday, May 30th. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a research report on Friday, May 31st.
View Our Latest Stock Report on NOAH
Noah Company Profile
Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.
See Also
- Five stocks we like better than Noah
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- BHP Stock: The Under-the-Radar Growth Story in Commodities
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Analysts Upgrade These 3 Hot Buy-and-Hold Stocks
- What is the NASDAQ Stock Exchange?
- Kohl’s Charts a Resilient Path in a Challenging Retail Landscape
Receive News & Ratings for Noah Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noah and related companies with MarketBeat.com's FREE daily email newsletter.