Samsonite (01910) fell more than 3% in the intraday period. As of press release, it was down 2.17% to HK$18, with a turnover of HK$519.6 million.
The Zhitong Finance App learned that Samsonite (01910) fell more than 3% in the intraday period. As of press release, it fell 2.17% to HK$18, with a turnover of HK$519.6 million.
According to the news, Macquarie released a research report saying that Samsonite's revenue for the third quarter of this year is expected to drop 3% year-on-year due to declining global consumer trends. It is believed that gross margin for the third quarter will be negatively affected by unfavorable regions and product portfolios, but good cash flow should allow the company to continue to return shareholders and carry out deleveraging.
The bank lowered Samsonite's adjusted net profit forecast for this year and next by 2.3% and 10.2% respectively. It is expected that sales and profit for the third quarter will fall short of expectations. The target price was lowered from HK$22 to HK$19.7. This is equivalent to predicting 11 times the price-earnings ratio for this year, and the rating is “neutral”.