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Sun Hung Kai & Co. Limited's (HKG:86) Subdued P/E Might Signal An Opportunity
Sun Hung Kai & Co. Limited's (HKG:86) Subdued P/E Might Signal An Opportunity
Sun Hung Kai & Co. Limited's (HKG:86) price-to-earnings (or "P/E") ratio of 2.7x might make it look like a strong buy right now compared to the market in Hong Kong, where around half of the companies have P/E ratios above 9x and even P/E's above 19x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so limited.
Recent times haven't been advantageous for Sun Hung Kai as its earnings have been rising slower than most other companies. It seems that many are expecting the uninspiring earnings performance to persist, which has repressed the P/E. If this is the case, then existing shareholders will probably struggle to get excited about the future direction of the share price.
View our latest analysis for Sun Hung Kai
SEHK:86 Price Based on Past Earnings May 18th 2022 If you'd like to see what analysts are forecasting going forward, you should check out our free report on Sun Hung Kai.Is There Any Growth For Sun Hung Kai?
There's an inherent assumption that a company should far underperform the market for P/E ratios like Sun Hung Kai's to be considered reasonable.
Taking a look back first, we see that the company managed to grow earnings per share by a handy 11% last year. Pleasingly, EPS has also lifted 154% in aggregate from three years ago, partly thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing earnings over that time.
Looking ahead now, EPS is anticipated to climb by 14% per annum during the coming three years according to the dual analysts following the company. That's shaping up to be similar to the 16% each year growth forecast for the broader market.
In light of this, it's peculiar that Sun Hung Kai's P/E sits below the majority of other companies. It may be that most investors are not convinced the company can achieve future growth expectations.
The Key Takeaway
It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
We've established that Sun Hung Kai currently trades on a lower than expected P/E since its forecast growth is in line with the wider market. There could be some unobserved threats to earnings preventing the P/E ratio from matching the outlook. It appears some are indeed anticipating earnings instability, because these conditions should normally provide more support to the share price.
Before you take the next step, you should know about the 2 warning signs for Sun Hung Kai that we have uncovered.
You might be able to find a better investment than Sun Hung Kai. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
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.
Sun Hung Kai & Co. Limited's (HKG:86) price-to-earnings (or "P/E") ratio of 2.7x might make it look like a strong buy right now compared to the market in Hong Kong, where around half of the companies have P/E ratios above 9x and even P/E's above 19x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so limited.
新鸿基股份有限公司(HKG:86)2.7倍的市盈率(或“市盈率”)可能使其与香港市场相比看起来是一个强劲的买入。在香港,大约一半的公司的市盈率高于9倍,即使市盈率高于19倍也相当常见。尽管如此,仅仅从面值来看待市盈率是不明智的,因为可能会有一个解释,为什么它如此有限。
Recent times haven't been advantageous for Sun Hung Kai as its earnings have been rising slower than most other companies. It seems that many are expecting the uninspiring earnings performance to persist, which has repressed the P/E. If this is the case, then existing shareholders will probably struggle to get excited about the future direction of the share price.
新鸿基地产最近的情况对其不利,因为它的盈利增速一直低于大多数其他公司。似乎许多人预计,令人沮丧的盈利表现将持续下去,这抑制了市盈率。如果是这样的话,现有股东可能很难对未来股价的走势感到兴奋。
View our latest analysis for Sun Hung Kai
查看我们对新鸿基的最新分析
Is There Any Growth For Sun Hung Kai?
新鸿基有没有增长?
There's an inherent assumption that a company should far underperform the market for P/E ratios like Sun Hung Kai's to be considered reasonable.
有一个固有的假设,即一家公司的市盈率应该远远逊于市场,新鸿基这样的市盈率才被认为是合理的。
Taking a look back first, we see that the company managed to grow earnings per share by a handy 11% last year. Pleasingly, EPS has also lifted 154% in aggregate from three years ago, partly thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing earnings over that time.
首先回顾一下,我们看到该公司去年的每股收益轻松增长了11%。令人欣喜的是,每股收益较三年前上涨了154%,这在一定程度上要归功于过去12个月的增长。因此,我们可以从确认该公司在这段时间内在增长收益方面做得很好开始。
Looking ahead now, EPS is anticipated to climb by 14% per annum during the coming three years according to the dual analysts following the company. That's shaping up to be similar to the 16% each year growth forecast for the broader market.
根据跟踪该公司的两位分析师的说法,展望未来三年,每股收益预计将以每年14%的速度攀升。这将与大盘每年16%的增长预期相仿。
In light of this, it's peculiar that Sun Hung Kai's P/E sits below the majority of other companies. It may be that most investors are not convinced the company can achieve future growth expectations.
有鉴于此,新鸿基的市盈率低于其他大多数公司,这是很奇怪的。这可能是因为大多数投资者不相信该公司能够实现未来的增长预期。
The Key Takeaway
关键的外卖
It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
有人认为,市盈率是衡量某些行业价值的次要指标,但它可以成为一个强大的商业信心指标。
We've established that Sun Hung Kai currently trades on a lower than expected P/E since its forecast growth is in line with the wider market. There could be some unobserved threats to earnings preventing the P/E ratio from matching the outlook. It appears some are indeed anticipating earnings instability, because these conditions should normally provide more support to the share price.
我们已经确定,新鸿基目前的市盈率低于预期,因为它的预期增长与大盘一致。可能存在一些未被察觉的盈利威胁,阻碍了市盈率与预期的匹配。一些人似乎确实预计收益不稳定,因为这些条件通常应该会为股价提供更多支撑。
Before you take the next step, you should know about the 2 warning signs for Sun Hung Kai that we have uncovered.
在您采取下一步之前,您应该了解新鸿基的两个警告标志我们已经发现了。
You might be able to find a better investment than Sun Hung Kai. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
你或许能找到比新鸿基更好的投资。如果您想要选择可能的候选人,请查看以下内容免费令人感兴趣的市盈率低于20倍的公司名单(但已证明它们可以增加收益)。
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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