Bullish stock to watch: Bright Scholar Education Holdngs Ltd-ADR (NYSE: BEDU)

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Bright Scholar Education Holdngs Ltd-ADR (NYSE: BEDU) stock rose 2.82% on January 16th, 2020 (Source: Google finance) despite mixed results for the first quarter of FY 20. The company has posted the adjusted gross profit for the quarter of RMB484.8 million, representing a 62% increase from RMB299.3 million for the same quarter of the last fiscal year. The company has reported the adjusted net income for the quarter was RMB225.4 million, which is up 34.5% from RMB167.5 million for the same period of the last fiscal year. As of November 30, 2019, the Company had generated the cash and cash equivalents and restricted cash of RMB2,426.6 million (US$345.1 million), as compared to RMB3,265.0 million as of August 31, 2019. For the first quarter ended November 30, 2019, the Company had incurred the capital expenditure of approximately RMB60.9 million, up 90.8% compared to the same period of the last fiscal year

BEDU in the first quarter of FY 20 has reported the adjusted earnings per share of 25 cents, missing the analysts’ estimates for the adjusted earnings per share of 27 cents. The company had reported the adjusted revenue growth of 69 percent to $156.16 million in the first quarter of FY 20, beating the analysts’ estimates for revenue of $154.01 million. Domestic K-12 Schools’ revenue contribution for the first quarter was RMB669.7 million and accounted for 60.9% of the total revenue, which is growth of 21.7% from RMB550.3 million for the same period of the last fiscal year. International Schools’ revenue contribution for the quarter was RMB273.9 million and accounted for 24.9% of the total revenue, which is a growth of 25.3% from RMB218.6 million for the same period of the last fiscal year, which accounted for 33.6% of the total revenue in that period.  Bilingual Schools’ revenue contribution for the quarter was RMB229.8 million and accounted for 20.9% of the total revenue, which is an increase of 18.5% from RMB194.0 million for the same period of the last fiscal year, which accounted for 29.9% of the total revenue in that period.

For the fiscal year 2020, the Company had reaffirmed its guidance and expects its revenue to be in a range of RMB4.0 billion and RMB4.1 billion, which represents a year-over-year growth of 56% to 60%, and its average student enrollment to be in the range of approximately 53,200 and 53,600, which represents a year-over-year increase of 14% to 15%. The Company also projects to open seven new kindergartens for the 2020 fiscal year.

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