|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||51.34 - 52.46|
|52 Week Range||46.03 - 75.16|
|Beta (5Y Monthly)||0.60|
|PE Ratio (TTM)||17.82|
|Earnings Date||Feb 19, 2021|
|Forward Dividend & Yield||2.10 (4.02%)|
|Ex-Dividend Date||Jul 14, 2020|
|1y Target Est||75.05|
"The affirmation reflects Mengniu's strengthened business profile and steady operations, which support its cash flow and gradual improvement in leverage over the next 1-2 years," says Ying Wang, a Moody's Vice President and Senior Analyst. Mengniu's Baa1 issuer rating reflects its leading positions across major dairy product segments, strong distribution capabilities and integrated model. The rating also considers the support it receives from its three strategic shareholders: COFCO Corporation, Danone (Baa1 stable) and Arla Foods.
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(Bloomberg) -- European executives are losing confidence in the outlook as new virus restrictions threaten to drag the economy into another slump.Days after Danone and Thyssenkrupp AG announced thousands of job cuts, reports pointed to a souring mood across Europe’s corporate world. Germany’s Ifo Institute said a gauge of business expectations fell more than economists forecast in November, while a French sentiment measure also plunged.The gloomier take, reversing recent improvements, follows the rise in infections that’s forced governments to shut bars and restaurants and impose restrictions on movement. While there’s been positive vaccine news in recent weeks, companies still have to weather the hit to revenue until a successful treatment could be rolled out next year.In Germany, the outlook is particularly bad in services, where temporary business closures and rules on social activities erode profits and threaten bankruptcies. More than 70% of companies in hospitality are worried about failing, with almost 20% wondering if they’ll even get through this month. Ifo said a sub-index for hotels and hospitality “absolutely nosedived.”“Businesses are more or less resigned to the fact that this uncertainty -- these measures coming in and being lifted again -- is going to stay for some time,” Ifo President Clemens Fuest told Bloomberg Television.Chancellor Angela Merkel and the country’s regional leaders will decide on Wednesday whether to tighten and extend curbs through much of the upcoming holiday season. In France, President Emmanuel Macron is due to announce a gradual easing of restrictions on Tuesday that will involve bars and restaurants remaining closed beyond the initial Dec. 1 deadline.The upsurge in the virus has cut short a strong economic rebound in the third quarter. It’s also revived the threat to employment. On Monday, Danone said it will cut as many as 2,000 jobs to save 1 billion euros ($1.2 billion).The Ifo index “illustrates how the latest lockdown measures in Germany, but also across Europe, have dented the summer optimism,” said Carsten Brzeski, an economist at ING Germany. “The only upside is that more news about a vaccine and a timetable to roll it out should soon help to bring back this optimism.”In light of new restrictions, economists expect Germany’s gross domestic product to stagnate this quarter, while the Bundesbank sees a risk of a contraction. The domestic restrictions are more targeted than during the first wave, but exports are suffering from a resurgence of the virus across Europe, it said.The French economy could shrink 3.5% and the euro area by 1.7%, according to economists surveyed by Bloomberg this month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.