SEHK:902Renewable Energy
Huaneng Power International (SEHK:902) Stock Price Slides As Profit Drops 66.8%
Huaneng Power International stock has been sliding for weeks and came into this earnings release already under pressure, with the share price down about 17% over 3 months. The results have now handed investors a different kind of discomfort. Quarterly basic earnings per share fell to ¥0.073581 and net income dropped to ¥990.4m, which is a sharp squeeze compared with the prior quarters in this cycle.
The market is reacting to a stock that screens cheap on a 7.8x P/E and carries an 8.64%...