Jefferies Downgrades Gongniu Group to Hold From Buy, Adjusts Price Target to 40 Yuan From 54 Yuan
Gongniu Group (SHA:603195) has an average rating of overweight and mean price target of 47.21 yuan, according to analysts polled by FactSet.
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Gongniu Group (SHA:603195) has an average rating of overweight and mean price target of 47.21 yuan, according to analysts polled by FactSet.
Gongniu (SHA:603195) posted first-half attributable net profit of 2.15 billion yuan, up 4.4% from 2.06 billion yuan the previous year.Earnings per share climbed to 1.19 yuan from 1.14 yuan, according to a filing with the Shanghai bourse.Operating revenue rose 2.8% year over year to 8.39 billion yuan from 8.17 billion yuan.Shares of the civil electrical products manufacturer were down 3% in recent trade.
Gongniu Group (SHA:603195) lowered the threshold of the price of its share buyback after distributing its cash dividend for the 2025 period.Price of each share will be capped at 60.10 yuan, lower than the previous limit of 62 yuan, according to a Shanghai bourse filing on Friday.The electrical products manufacturer announced plans to repurchase shares worth between 200 million yuan and 400 million yuan in April.The dividend of 1.90 yuan per share was distributed Thursday.The company's shares rose 3% during the morning trade.
Gongniu Group (SHA:603195) posted first-quarter net profit attributable to shareholders of 4.07 billion yuan, down 3.5% from 4.27 billion yuan the previous year.Earnings per share fell to 2.26 yuan from 2.36 yuan, according to a Thursday filing with the Shanghai bourse.The civil electrical products manufacturer's operating revenue declined 4.8% year over year to 16.0 billion yuan from 16.8 billion yuan.