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Monday, Nov 189:26 AMJ.P. Morgan raises PT on Home Inns, praises margin execution, sees continuation
Monday, Nov 189:26 AM| Comment!
- J.P. Morgan raises its PT on Home Inns & Hotels (HMIN) to $46 from $40 and reiterates a Buy rating following the company's Q3 results. The firm notes that EBITDA growth outpaced revenue (19% Y/Y vs. 9%) in Q3, reaching a margin of 25.7% (+1.2% Y/Y).
- The cause of stronger-than-expected margins? solid cost control, with total cost as a % of L&O revenue falling 4% on the back of personnel savings, the ramp-up of the acquired Motel 168 brand, and a shift in business mix towards higher-margin franchise revenue (22% Y/Y growth). J.P. Morgan sees margin trends continuing into 2014, with debt reduction and dividend opportunities in 2015.
Thursday, Nov 145:17 PM
Thursday, Nov 1412:10 AM
Wednesday, Nov 135:35 PM
Tuesday, Aug 131:16 PMJ.P. Morgan lifts target on Home Inns following Q2 results
Tuesday, Aug 131:16 PM| Comment!
- Home Inns' (HMIN +2.5%) earnings growth should come in stronger than its peer group, J.P. Morgan says, following the company's Q2 beat.
- Analyst Kenneth Fong raises his price target on the shares from $36 to $40, representing a 37% upside from Monday's close.
- Fong notes that the quarterly revenue beat was largely attributable to "better margin," as the company demonstrated "good cost control [and] operating leverage," and saw an "increased contribution from high margin franchise hotels."
- Operating margin rose 120 bps Y/Y in Q2. (PR)
Monday, Aug 128:23 PMMore on Home Inns earnings
Monday, Aug 128:23 PM| Comment!
- Home Inns (HMIN) Q2 beats on all counts.
- Total revenues increased 11% Y/Y to RMB 1.60B.
- Opened 100 new hotels in the quarter and operated 1,953 hotels across 271 cities in China under its three brands.
- Total of 206 hotels contracted or under construction, including 146 franchised-and-managed hotels.
- Company says the pipeline of franchised-and-managed hotels remains strong given continued demand for this business model from existing and new potential franchisee partners.
- Shares +0.5% AH.
Monday, Aug 125:28 PM
Monday, Aug 1212:10 AM
Sunday, Aug 115:35 PM
Monday, May 1312:10 AM
Sunday, May 125:35 PM
Monday, Mar 117:21 PM
Monday, Mar 1112:10 AM
Sunday, Mar 105:35 PM
Monday, Mar 411:06 AM
Tuesday, Dec 42012, 10:31 AMHotel hunting: China's Dalian Wanda Group is in talks with major hotel chains in the U.S. over buying and building more hotels in North America. Chairman Wang Jianlin didn't disclose which hotel companies he is in discussions with, but noted investing in areas such as Kansas or Iowa that need capital is something Chinese companies should look at. |Tuesday, Dec 42012, 10:31 AM| Comment!
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