Geely Automobile's stock experienced a significant downturn on the Frankfurt Stock Exchange, plummeting by 9.76% to €1.47. This sharp decline follows a series of negative trading sessions, intensifying investor concerns about the Chinese automaker's short-term performance. Despite the current market volatility, analysts remain bullish on Geely's prospects, projecting a dividend of 0.370 CNY per share for the current year, marking a substantial increase from the previous period. Furthermore, experts anticipate earnings of 1.23 CNY per share for 2024, underscoring confidence in the company's financial stability.
Long-term Growth Potential
While the stock currently trades 14.04% below its 52-week high of €1.63, market observers continue to see upside potential. The Chinese automotive market, particularly in the electric vehicle sector, is viewed as a key growth driver for Geely. The company's upcoming financial report, expected on March 25, 2025, could provide further insights into its business development and potentially influence the stock price positively. With a price-to-earnings ratio of 14.77 for 2024 and a dividend yield of 2.43% for the current year, Geely Automobile may still present an attractive proposition for investors focused on the expanding market for electric and new energy vehicles.
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