Jefferies Reiterates an 'Underperform' on Yanzhou Coal Mining (YZC); Don't Be Fooled

August 27, 2012 8:02 AM EDT
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Price: $7.20 +0.42%

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    Up: 13 | Down: 22 | New: 54
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Jefferies reiterates an 'Underperform' on Yanzhou Coal Mining (NYSE: YZC).

Analyst, Laban Yu, said, "Yanzhou Coal's 1H12 net income beat consensus by 42% and our estimates by 37%. The out-performance was entirely the result of accounting esoterica from the acquisition of Gloucester resulting in Rmb1.4B of acquisition gains and Rmb1.1B in deferred taxes. Gross profits came in 10% below our estimates."

For an analyst ratings summary and ratings history on Yanzhou Coal Mining click here. For more ratings news on Yanzhou Coal Mining click here.

Shares of Yanzhou Coal Mining closed at $14.83 yesterday.

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