Stock Track | Nongfu Spring Shares Plunge on Lowered Estimates, Online Criticism

Stock Track07-24

Shares of Nongfu Spring Co. Ltd. plummeted as much as 8.01% during intraday trading on Tuesday, as the beverage giant faced mounting pressure from multiple fronts.

Jefferies, a prominent equity research firm, lowered its revenue and earnings estimates for Nongfu Spring from 2024 to 2026, citing the impact of recent online criticism and sales pressure. The firm now expects the company's revenue to reach 46.8 billion yuan in 2024, down from its previous estimate, and earnings per share to be 1.07 yuan, a 10% reduction.

The online criticism mentioned by Jefferies relates to Nongfu Spring's competition with rival brand Wahaha and the nationality of the company's chairman's son. While sales gradually recovered in June, the negative publicity appears to have weighed on investor sentiment, contributing to the stock's sharp decline.

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Ltd. plummeted as much as 8.01% during intraday trading on Tuesday, as the beverage giant faced mounting pressure from multiple fronts.\nJefferies, a prominent equity ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"09633","symbol_name":"农夫山泉","start_time":0,"source_url":"","article_id":"1196575952","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1196575952","pubTimestamp":1721815333,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Nongfu Spring Co. 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