TAL International Fiscal Q1 Tops Views

TAL International Group American depository shares rose to a new record high on Thursday after the company reported fiscal Q1 earnings per ADS of $0.43, up from $0.25, and beating the $0.38 analyst estimate. TAL was up 1% recent at $150.62, trading in a new 52-week range between $57.63 and $155.05. Revenue for the quarter, which ended May 31, came in at $321.9 million from $195.1 million in the same period of the prior year. This beat the $306.5 million consensus view.

The company said it expects fiscal Q2 revenue between $428.4 million and $433.8 million. The Street is at $419.3 million. Separately, the company said will change its ADS to class A common share ratio from 1:2 to 3:1. TAL anticipates that the change in the ADS ratio will be effective on Aug. 16. For TAL’s ADS holders, this ratio change will have the same effect as a 6-for-1 ADS split.

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