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

MINISO Group Holding Limited (NYSE:MNSO) shares were down 3.7% on Monday following a dissappointing earnings announcement. The company traded as low as $18.20 and last traded at $18.24. Approximately 329,762 shares changed hands during mid-day 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.61 by ($2.25). The business had revenue of $646.49 million during the quarter, compared to the consensus estimate of $4.82 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 disclosed a — dividend, which will be paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th will be paid a $0.3268 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, April 8th. MINISO Group’s payout ratio is 55.08%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MNSO shares. HSBC initiated coverage on shares of MINISO Group in a research note on Wednesday, February 26th. They set a “buy” rating and a $29.30 target price on the stock. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.70.

Hedge Funds Weigh In On MINISO Group

Several large investors have recently modified their holdings of the business. Citigroup Inc. grew 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 purchasing an additional 330,579 shares during the last quarter. FMR LLC lifted its holdings in MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after buying an additional 2,884 shares during the period. Erste Asset Management GmbH acquired a new position in MINISO Group during the 3rd quarter worth about $685,000. Centiva Capital LP bought a new stake in shares of MINISO Group in the 3rd quarter valued at about $255,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of MINISO Group in the third quarter valued at about $191,000. Institutional investors own 17.16% of the company’s stock.

MINISO Group Stock Down 3.0 %

The stock has a 50-day moving average price of $21.74 and a 200-day moving average price of $20.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The company has a market capitalization of $5.74 billion, a P/E ratio of 16.55, a P/E/G 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.