Noah Holdings Limited (ADR) got downgraded

Noah Holdings Limited (ADR) (NYSE:NOAH) received a stock rating downgrade from JP Morgan on Mar-30-16. In a note to investors, the firm issued a Neutral rating. The analysts previously had an Overweight rating on the stock.

Analysts have a consensus target price of $35.00 in the 12-month period. The price objective is 37.47% higher than the recent closing price of $25.46. The 52-week price range is $18.66-$37.96 and the company has a market capitalization of $1.43 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, Zero has assigned a hold rating, Zero says it’s a buy, and 1 have assigned a strong buy rating to the company.

Noah Holdings Limited (ADR) (NOAH) on March 16, 2016 announced its unaudited financial results for the fourth quarter of 2015 and the full year ended December 31, 2015.

Starting from the fourth quarter of 2015, the Company changed its reporting currency from the U.S. dollar (“US$”) to the Renminbi (“RMB”), based on the consideration that the majority of the Company’s operations are conducted in RMB, and aligning the reporting currency with the underlying operations will better depict our results of operations for each period, and reduce the impact that the increased volatility of the RMB to US$ exchange rate will have on the Company’s reported operating results. This release contains translations of certain RMB amounts into US$ for convenience. Prior period numbers have been recast into the new reporting currency.

FOURTH QUARTER 2015 FINANCIAL HIGHLIGHTS

• Net revenues in the fourth quarter of 2015 were RMB573.7 million (US$88.6 million), a 47.5% increase from the corresponding period in 2014.


• Net income attributable to Noah shareholders in the fourth quarter of 2015 was RMB83.5 million (US$12.9 million), a 7.9% decrease from the corresponding period in 2014.


• Non-GAAP net income attributable to Noah shareholders in the fourth quarter of 2015 was RMB106.2 million (US$16.4 million), an 11.4% increase from the corresponding period in 2014.

FULL YEAR 2015 FINANCIAL HIGHLIGHTS

• Net revenues in the full year 2015 were RMB2,119.9 million (US$327.3 million), a 38.7% increase from 2014.


• Net income attributable to Noah shareholders in the full year 2015 was RMB535.8 million (US$82.7 million), a 20.0% increase from 2014.


• Non-GAAP net income attributable to Noah shareholders in the full year 2015 was RMB603.5 million (US$93.2 million), a 25.9% increase from 2014.

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