Jerash Reports Mixed Q4 Earnings, Gets Analyst Price Target Bump

Jerash Holdings Inc JRSH reported fourth-quarter FY21 sales of $23.8 million, up 65% year-on-year, beating the consensus estimate of $20 million.
The increase in sales was mainly due to higher shipments and pandemic-related effects in the prior year period.
The gross margin expanded to 19.6%, up 1,090 basis points Y/Y, reflecting an improved product mix.
The operating margin was 4.6%.
EPS of $0.06 grew 185.7% Y/Y, missing the consensus estimate of $0.10.
Jerash used $1.5 million in operating cash flow, and its cash and equivalents totaled $22.9 million as of March 31, 2021.
Guidance: Jerash sees FY22 sales between $100 and $102 million versus analyst consensus of $100.76 million.
Aegis Capital analyst Rommel Dionisio maintained Jerash Holdings with a Buy rating and raised the price target from $8 to $9.
“We continue to anticipate that fiscal 2022 will reflect more typical customer patterns, with record revenue for the year, based on current ordering patterns,” said Sam Choi, chief executive officer.
Price action: JRSH shares are trading lower by 0.30% at $6.37 on the last check Tuesday.

Momentum59.04

Growth12.36

QualityNot Available

Value86.26

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