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MGM CHINA Plunges 7%+ in Early Trading; JPM Cuts TP, Downgrades Rating to Neutral for Disheartening Final DPS
Recommend 3 Positive 4 Negative 7 |
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After opening flat this morning (20th), MGM CHINA (02282.HK) was thrown into a slide, once bottoming at HKD11.08. It last traded at HKD11.12, down 7.41%, on a volume of 7.62 million shares and a turnover of HKD85.6697 million. MGM CHINA released its 2025 results after the market bell yesterday (19th). Its net profit surged by 10.2% YoY to HKD5.075 billion, while the adjusted EBITDA rose by 10.4% YoY to HKD10.005 billion, with EPS at HK133.5 cents. A final dividend of HK35.3 cents was declared, compared to the HK25.1 cents in the same period of the previous year. JPMorgan has released a report downgrading MGM CHINA's rating from Overweight to Neutral and cutting its target price from HKD18 to HKD13.2. The broker highlighted that the company's final dividend was 10% lower than its and the market's expectations, which was attributable to the unexpectedly weak EPS, despite the in-line dividend payout ratios. The report also stressed that it was truly disappointing for the management not to hint at any changes in the policy, and JPMorgan suspected that it wasn't the only one feeling it in the market. AAStocks Financial News |
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