Chagee (NASDAQ:CHA) Announces Earnings Results

Chagee (NASDAQ:CHA) issued its quarterly earnings results on Friday. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07), Zacks reports. The business had revenue of $450.67 million for the quarter, compared to the consensus estimate of $458.31 million.

Chagee Trading Up 5.8%

Shares of CHA stock opened at $14.95 on Friday. The firm has a market capitalization of $2.74 billion and a P/E ratio of 25.34. The stock’s fifty day moving average price is $15.76. Chagee has a 12 month low of $13.04 and a 12 month high of $41.80.

Chagee Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.92 per share. The ex-dividend date of this dividend is Monday, December 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in shares of Chagee during the 2nd quarter worth about $26,000. Quantbot Technologies LP purchased a new position in Chagee in the third quarter valued at approximately $34,000. Federated Hermes Inc. acquired a new stake in Chagee during the second quarter worth approximately $172,000. Geode Capital Management LLC purchased a new stake in shares of Chagee during the 2nd quarter worth approximately $232,000. Finally, Polymer Capital Management HK LTD acquired a new position in shares of Chagee in the 3rd quarter valued at $182,000.

Analyst Ratings Changes

CHA has been the subject of a number of research reports. JPMorgan Chase & Co. assumed coverage on shares of Chagee in a report on Friday, November 14th. They issued an “underweight” rating and a $14.20 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Chagee in a research note on Tuesday. Wall Street Zen cut Chagee from a “buy” rating to a “hold” rating in a research note on Sunday, September 7th. Finally, Macquarie assumed coverage on Chagee in a research note on Friday, September 5th. They set a “neutral” rating and a $19.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.73.

Chagee Company Profile

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees.