Home Inns & Hotels Management Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Chinese hotel operator Home Inns & Hotels Management (NAS: HMIN) were feeling rather hospitable today, up by as much as 11%, after the company reported quarterly earnings yesterday.
So what: Third-quarter revenue rang up to $154.9 million, leading to earnings per share of $0.45. Both figures came in higher than the market's expectations of $142.1 million in sales and earnings per share of $0.43. Shareholders were focusing on the good news and brushed off the fact that next quarter's guidance came in below the consensus.
Now what: The company sees fourth-quarter revenue in the range of $156 million to $159.1 million, while analysts are looking for $176 million. The company's strong quarter was attributed to better-than-expected performance and continued operational improvements at mature hotels outside Shanghai. Home Inns opened its 1,000th hotel during the quarter and now operates in 174 cities in China.
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