MINISO Group (NYSE:MNSO) Stock Price Down 3.7% on Disappointing Earnings

Shares of MINISO Group Holding Limited (NYSE:MNSO) dropped 3.7% during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $18.20 and last traded at $18.24. Approximately 329,762 shares were traded during trading, a decline of 80% from the average daily volume of 1,610,479 shares. The stock had previously closed at $18.94.

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

MINISO Group Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.3268 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, April 8th. MINISO Group’s dividend payout ratio (DPR) is presently 55.08%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MNSO shares. JPMorgan Chase & Co. raised shares of MINISO Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $15.00 to $22.00 in a research report on Tuesday. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. Finally, HSBC assumed coverage on shares of MINISO Group in a report on Wednesday, February 26th. They set a “buy” rating and a $29.30 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.03.

Institutional Trading of MINISO Group

A number of hedge funds have recently made changes to their positions in the company. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its stake 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 worth $219,835,000 after buying an additional 3,992,300 shares during the period. HCEP Management Ltd acquired a new stake in shares of MINISO Group during the fourth quarter valued at about $40,613,000. Candriam S.C.A. purchased a new stake in shares of MINISO Group during the fourth quarter worth about $9,986,000. Citigroup Inc. lifted its stake in shares of MINISO Group by 553.7% in the third quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after acquiring an additional 330,579 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in MINISO Group in the fourth quarter valued at about $3,780,000. Hedge funds and other institutional investors own 17.16% of the company’s stock.

MINISO Group Trading Down 0.4 %

The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The business has a 50 day simple moving average of $21.64 and a two-hundred day simple moving average of $20.52. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10.

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.