The Zhitong Finance App learned that ESR (01821) rose by more than 6% and rose 6.06% at press time to HK$8.05, with a turnover of HK$34.4 million.
According to reports, the company previously announced that the Group's revenue increased 6% from US$821 million in FY2022 to US$871 million in FY2023. Profit for fiscal year 2023 was approximately US$268 million, a year-on-year decrease of 57.5%. The Board recommended declaring a final dividend of HK$0.125 per share for the financial year ended 31 December 2023. At the end of December 2023, the scale of fee-related asset management increased 6.3% year-on-year to US$81.1 billion, while the total asset management scale increased 7.3% to US$156.1 billion.
Damo said that since the group announced a decrease in net profit last year on Thursday (21st), the stock fell to a low point since listing in 2019. However, the bank believes that the Group's profits will rebound this year, and the resumption of share buybacks will support the Group at a higher valuation level. The bank believes that the company's stock price is likely to rise by about 70% to 80% within 45 days. The target price is HK$17.5, and the rating is “increase in holdings”.