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The past five years for China Everbright Bank (SHSE:601818) investors has not been profitable
The past five years for China Everbright Bank (SHSE:601818) investors has not been profitable
The main aim of stock picking is to find the market-beating stocks. But every investor is virtually certain to have both over-performing and under-performing stocks. At this point some shareholders may be questioning their investment in China Everbright Bank Company Limited (SHSE:601818), since the last five years saw the share price fall 22%.
Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns.
View our latest analysis for China Everbright Bank
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
While the share price declined over five years, China Everbright Bank actually managed to increase EPS by an average of 2.8% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Or possibly, the market was previously very optimistic, so the stock has disappointed, despite improving EPS.
With EPS gaining and a declining share price, one would suggest the market is cooling on its view of the company. Having said that, if the EPS gains continue we'd expect the share price to improve, longer term.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
SHSE:601818 Earnings Per Share Growth May 9th 2022It might be well worthwhile taking a look at our free report on China Everbright Bank's earnings, revenue and cash flow.
What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of China Everbright Bank, it has a TSR of -1.2% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
A Different Perspective
The total return of 13% received by China Everbright Bank shareholders over the last year isn't far from the market return of -14%. So last year was actually even worse than the last five years, which cost shareholders 0.2% per year. It will probably take a substantial improvement in the fundamental performance for the company to reverse this trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with China Everbright Bank (at least 1 which can't be ignored) , and understanding them should be part of your investment process.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CN exchanges.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
The main aim of stock picking is to find the market-beating stocks. But every investor is virtually certain to have both over-performing and under-performing stocks. At this point some shareholders may be questioning their investment in China Everbright Bank Company Limited (SHSE:601818), since the last five years saw the share price fall 22%.
选股的主要目的是寻找跑赢大盘的股票。但几乎可以肯定的是,每个投资者都会同时拥有表现优异和表现不佳的股票。在这一点上,一些股东可能会质疑他们在中国光大银行股份有限公司(上交所:601818),自过去五年以来,股价下跌了22%。
Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns.
由于股东在较长期内下跌,让我们看看这段时间的基本基本面,看看它们是否与回报一致。
View our latest analysis for China Everbright Bank
查看我们对中国光大银行的最新分析
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
虽然有效市场假说继续被一些人传授,但事实证明,市场是过度反应的动态系统,投资者并不总是理性的。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
While the share price declined over five years, China Everbright Bank actually managed to increase EPS by an average of 2.8% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Or possibly, the market was previously very optimistic, so the stock has disappointed, despite improving EPS.
虽然股价在五年内下跌,但中国光大银行实际上成功地增加平均每年以2.8%的速度增长。因此,每股收益似乎并不能很好地指导人们理解市场对股票的估值。也有可能,此前市场非常乐观,因此尽管每股收益有所改善,但该股仍令人失望。
With EPS gaining and a declining share price, one would suggest the market is cooling on its view of the company. Having said that, if the EPS gains continue we'd expect the share price to improve, longer term.
随着每股收益的上涨和股价的下跌,有人会认为市场对该公司的看法正在降温。话虽如此,如果每股收益继续上涨,我们预计股价将在更长时间内改善。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图描述了EPS是如何随着时间的推移而变化的(通过单击图像来揭示确切的值)。
It might be well worthwhile taking a look at our free report on China Everbright Bank's earnings, revenue and cash flow.
也许很值得一看我们的免费中国光大银行的收入、收入和现金流报告。
What About Dividends?
那股息呢?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of China Everbright Bank, it has a TSR of -1.2% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
除了衡量股价回报外,投资者还应考虑总股东回报(TSR)。TSR是一种回报计算,计入了现金股息的价值(假设收到的任何股息都进行了再投资),以及任何贴现融资和剥离的计算价值。公平地说,TSR为支付股息的股票提供了更完整的图景。以中国光大银行为例,过去5年的总资产收益率为-1.2%。这超过了我们之前提到的它的股价回报。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
The total return of 13% received by China Everbright Bank shareholders over the last year isn't far from the market return of -14%. So last year was actually even worse than the last five years, which cost shareholders 0.2% per year. It will probably take a substantial improvement in the fundamental performance for the company to reverse this trend. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with China Everbright Bank (at least 1 which can't be ignored) , and understanding them should be part of your investment process.
中国光大银行股东去年13%的总回报率与-14%的市场回报率相距不远。因此,去年实际上比过去五年还要糟糕,过去五年股东每年损失0.2%。该公司可能需要基本面业绩的大幅改善才能扭转这一趋势。虽然值得考虑市场状况对股价可能产生的不同影响,但还有其他更重要的因素。例如,考虑一下无处不在的投资风险幽灵。我们已经为中国光大银行确定了两个警示信号(至少有一个不容忽视),理解它们应该是你投资过程的一部分。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
当然了,如果你把目光投向别处,你可能会发现这是一笔很棒的投资。所以让我们来看看这个免费我们预计收益将会增长的公司名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on CN exchanges.
请注意,本文引用的市场回报反映了目前在CN交易所交易的股票的市场加权平均回报。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有什么反馈吗?担心内容吗?保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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