Noah (NYSE:NOAH) Issues Earnings Results

Noah (NYSE:NOAH) issued its earnings results on Wednesday. The asset manager reported $0.28 EPS for the quarter, FiscalAI reports. The business had revenue of $90.76 million for the quarter. Noah had a net margin of 21.29% and a return on equity of 6.12%.

Noah Stock Performance

NYSE:NOAH traded up $0.11 during midday trading on Wednesday, reaching $10.13. 72,872 shares of the stock traded hands, compared to its average volume of 119,418. Noah has a 12-month low of $9.43 and a 12-month high of $12.84. The business has a 50-day moving average of $10.45 and a two-hundred day moving average of $10.83. The stock has a market capitalization of $683.07 million, a PE ratio of 9.12 and a beta of 0.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NOAH shares. JPMorgan Chase & Co. downgraded shares of Noah from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.70 to $12.00 in a research note on Thursday, March 26th. Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings upgraded shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Noah currently has an average rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On Noah

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning lifted its position in Noah by 10.6% during the third quarter. Creative Planning now owns 12,516 shares of the asset manager’s stock valued at $145,000 after acquiring an additional 1,195 shares during the last quarter. American Century Companies Inc. lifted its position in Noah by 1.5% during the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock valued at $1,666,000 after acquiring an additional 2,084 shares during the last quarter. Bank of America Corp DE lifted its position in Noah by 2.2% during the second quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager’s stock valued at $1,193,000 after acquiring an additional 2,163 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Noah by 17.7% during the third quarter. BNP Paribas Financial Markets now owns 16,070 shares of the asset manager’s stock valued at $186,000 after acquiring an additional 2,412 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Noah by 10.0% during the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock valued at $429,000 after acquiring an additional 3,251 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.