On Mar 8, Zacks Investment Research upgraded
Noah Holdings Limited
) to a Zacks Rank #1 (Strong Buy).
FORTRESS INVEST (FIG): Free Stock Analysis
LAZARD LTD (LAZ): Free Stock Analysis Report
NOAH HLDGS LTD (NOAH): Free Stock Analysis
OCH-ZIFF CAPTL (OZM): Free Stock Analysis
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Why the Upgrade?
Shanghai based investment management firm Noah Holdings has
witnessed positive estimate revisions on the back of strong
fourth-quarter 2013 results. The company has delivered positive
earnings surprises in 3 of the 4 quarters of 2013 with an average
beat of 61.8%. Further, the expected EPS growth rate now stands
On Feb 26, Noah Holdings reported its fourth-quarter and
full-year 2013 results. Income per ADS in the reported quarter
came in at 24 cents, beating the Zacks Consensus Estimate by
20.0%. Results benefited from top-line growth aided by strong
wealth management performance.
Driven by a surge in both third-party revenues and related party
revenues, net revenue was up 81.1% year over year to $45.4
million. However, total expenses rose 75.6% to $18.3 million.
During the quarter, active clients were up 78.9% year over year
to 2,927. Further, Noah Holdings distributed wealth management
products worth around $1.9 billion in the quarter, representing
an 81.0% increase from the prior-year period. Notably, it
comprised 83.5% fixed income products, 11.6% private equity fund
products while other products, including mutual fund products,
private securities investment funds and insurance products,
covered the remaining 4.9%.
As of Dec 31, 2013, total number of registered clients stood at
around 53,501, reflecting a year-over-year rise of 32.7%.
Additionally, the Zacks Consensus Estimate for 2014 increased
5.5% to $1.16 per share.
Other Stocks to Consider
Other stocks in this space worth considering include
Fortress Investment Group LLC
Och-Ziff Capital Management Group LLC
). All these stocks hold the same Zacks Rank as Noah Holdings.