GO
| HSI1 | 18,475.92 | +268.79 | 116.19B |
| HSCEI1 | 6,547.29 | +110.20 | 55.14B |
| Back Zoom + Zoom - Block Traded | |
|
NEW ORIENTAL Once Tumbles 19% Post-results; Jefferies Says Earnings Miss & GP Weak
2024-04-25 09:54:26 NEW ORIENTAL-S (09901.HK) opened 14.95% lower today, and once tumbled 19.25% to a 3-month low of $57.25. The stock last printed at $57.95, down 18.27%, with 2.7656 million shares traded, involving $164 million. NEW ORIENTAL-S' earnings for the quarter ended February was weaker than the market consensus, mainly due to the weaker-than-expected gross profit of its live e-commerce platform East Buy, Jefferies said. Jefferies noted that investors are concerned about the rapid expansion of its learning centers and the increasingly intensified debate on East Buy's synergies. Therefore, Jefferies lowered its FY2024 to FY2026 EPS forecasts on NEW ORIENTAL-S by 11%/ 4%/ 2% each, and kept rating at Buy, with a target price of $73. ~ AAStocks Financial News Web Site: www.aastocks.com | |