MINISO Group (NYSE:MNSO) Stock Price Down 3.7% Following Weak Earnings

MINISO Group Holding Limited (NYSE:MNSO) shares fell 3.7% during mid-day trading on Monday following a weaker than expected earnings announcement. The company traded as low as $18.20 and last traded at $18.24. 329,762 shares traded hands during trading, a decline of 80% from the average session 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 business had revenue of $646.49 million during the quarter, compared to analyst estimates of $4.82 billion.

MINISO Group Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 8th will be given a $0.3268 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. MINISO Group’s payout ratio is 46.85%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MNSO. HSBC began coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price objective for the company. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.70.

Institutional Trading of MINISO Group

Several institutional investors and hedge funds have recently bought and sold shares of MNSO. Citigroup Inc. lifted its stake in MINISO Group by 553.7% in the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after purchasing an additional 330,579 shares in the last quarter. FMR LLC lifted its stake in MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after purchasing an additional 2,884 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in MINISO Group in the 3rd quarter worth approximately $685,000. Centiva Capital LP purchased a new stake in MINISO Group in the 3rd quarter worth approximately $255,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of MINISO Group during the 3rd quarter valued at $191,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

MINISO Group Stock Performance

The company’s 50-day moving average price is $21.83 and its two-hundred day moving average price is $20.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The stock has a market cap of $5.70 billion, a PE ratio of 16.36, a PEG ratio of 0.80 and a beta of 0.10.

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.