China-based Noah Holdings Q3 net income rises
Overview
Wealth management services provider Noah Holdings Q3 net revenue falls 7.4% yr/yr, primarily due to reduced one-time commissions
Net income for Q3 rises 62.6% yr/yr, driven by increased investment values
Company cancelled 6.76 mln treasury shares, reflecting strategic capital management
Outlook
Noah Holdings plans to enhance global expansion with a U.S. broker-dealer license
Company integrating AI to improve client acquisition and operational efficiency
Noah Holdings emphasizes maintaining a strong balance sheet for future investments
Result Drivers
INVESTMENT VALUE INCREASE - Net income rose significantly due to increased fair value of investments in affiliates
PRIVATE SECONDARY PRODUCTS - Distribution of private secondary products increased by 66.9%, boosting investment product value
OVERSEAS ASSET MANAGEMENT DECLINE - Overseas asset management revenue decreased due to lower performance-based income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| RMB 632.9 mln |
|
Q3 Adjusted Net income per ADS |
| RMB 3.26 |
|
Q3 Net Income |
| RMB 218.5 mln |
|
Q3 Income from Operations |
| RMB 171.9 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy"
Wall Street's median 12-month price target for Noah Holdings Ltd is $13.55, about 23% above its November 24 closing price of $10.44
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nPnbrgGcva
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