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China Everbright (HKG:165) earnings and shareholder returns have been trending downwards for the last five years, but the stock lifts 5.9% this past week
China Everbright (HKG:165) earnings and shareholder returns have been trending downwards for the last five years, but the stock lifts 5.9% this past week
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term China Everbright Limited (HKG:165) shareholders for doubting their decision to hold, with the stock down 58% over a half decade. Shareholders have had an even rougher run lately, with the share price down 11% in the last 90 days. However, one could argue that the price has been influenced by the general market, which is down 5.2% in the same timeframe.
On a more encouraging note the company has added HK$708m to its market cap in just the last 7 days, so let's see if we can determine what's driven the five-year loss for shareholders.
View our latest analysis for China Everbright
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
During the five years over which the share price declined, China Everbright's earnings per share (EPS) dropped by 8.4% each year. Readers should note that the share price has fallen faster than the EPS, at a rate of 16% per year, over the period. This implies that the market is more cautious about the business these days. The less favorable sentiment is reflected in its current P/E ratio of 4.91.
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
SEHK:165 Earnings Per Share Growth June 2nd 2022We know that China Everbright has improved its bottom line lately, but is it going to grow revenue? Check if analysts think China Everbright will grow revenue in the future.
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for China Everbright the TSR over the last 5 years was -45%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
A Different Perspective
Although it hurts that China Everbright returned a loss of 14% in the last twelve months, the broader market was actually worse, returning a loss of 22%. Unfortunately, last year's performance may indicate unresolved challenges, given that it's worse than the annualised loss of 8% over the last half decade. While some investors do well specializing in buying companies that are struggling (but nonetheless undervalued), don't forget that Buffett said that 'turnarounds seldom turn'. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that China Everbright is showing 2 warning signs in our investment analysis , and 1 of those makes us a bit uncomfortable...
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on HK 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 in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term China Everbright Limited (HKG:165) shareholders for doubting their decision to hold, with the stock down 58% over a half decade. Shareholders have had an even rougher run lately, with the share price down 11% in the last 90 days. However, one could argue that the price has been influenced by the general market, which is down 5.2% in the same timeframe.
选股的主要目的是寻找跑赢大盘的股票。但在任何投资组合中,个股之间的结果都会喜忧参半。所以我们不会责怪长期中国光大股份有限公司(HKG:165)股东对他们持有股票的决定表示怀疑,该股在过去五年中下跌了58%。股东们最近的表现更加艰难,股价在过去90天里下跌了11%。然而,有人可能会辩称,价格受到了大盘的影响,大盘在同一时间段内下跌了5.2%。
On a more encouraging note the company has added HK$708m to its market cap in just the last 7 days, so let's see if we can determine what's driven the five-year loss for shareholders.
更令人鼓舞的是,仅在过去的7天里,该公司的市值就增加了7.08亿港元,所以让我们看看我们是否能确定是什么导致了股东五年来的亏损。
View our latest analysis for China Everbright
查看我们对中国光大的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
在他的文章中格雷厄姆和多德斯维尔的超级投资者沃伦·巴菲特描述了股价并不总是理性地反映一家企业的价值。一种不完美但简单的方法来考虑市场对一家公司的看法是如何改变的,那就是将每股收益(EPS)的变化与股价走势进行比较。
During the five years over which the share price declined, China Everbright's earnings per share (EPS) dropped by 8.4% each year. Readers should note that the share price has fallen faster than the EPS, at a rate of 16% per year, over the period. This implies that the market is more cautious about the business these days. The less favorable sentiment is reflected in its current P/E ratio of 4.91.
在股价下跌的五年中,中国光大的每股收益(EPS)每年下降8.4%。读者应该注意到,在此期间,该公司股价以每年16%的速度下跌,速度比每股收益更快。这暗示这几天市场对该业务更为谨慎。这种不那么有利的情绪反映在其目前4.91的市盈率上。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了EPS是如何随着时间的推移进行跟踪的(如果您点击该图像,您可以看到更多详细信息)。
We know that China Everbright has improved its bottom line lately, but is it going to grow revenue? Check if analysts think China Everbright will grow revenue in the future.
我们知道中国光大最近提高了利润,但它会增加收入吗?如果分析师认为中国光大未来营收将增长,请核对一下。
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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for China Everbright the TSR over the last 5 years was -45%, which is better than the share price return mentioned above. 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。因此,对于支付丰厚股息的公司来说,TSR往往比股价回报高得多。我们注意到,中国光大过去5年的TSR为-45%,好于上面提到的股价回报率。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的视角
Although it hurts that China Everbright returned a loss of 14% in the last twelve months, the broader market was actually worse, returning a loss of 22%. Unfortunately, last year's performance may indicate unresolved challenges, given that it's worse than the annualised loss of 8% over the last half decade. While some investors do well specializing in buying companies that are struggling (but nonetheless undervalued), don't forget that Buffett said that 'turnarounds seldom turn'. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that China Everbright is showing 2 warning signs in our investment analysis , and 1 of those makes us a bit uncomfortable...
尽管中国光大在过去12个月中亏损14%令人痛心,但大盘实际上更糟糕,亏损22%。不幸的是,去年的表现可能预示着尚未解决的挑战,因为它比过去五年8%的年化损失更糟糕。虽然一些投资者擅长买入那些陷入困境(但估值仍然被低估)的公司,但不要忘记巴菲特曾说过,扭亏为盈的情况很少出现转机。我发现,把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力,我们还需要考虑其他信息。即便如此,请注意,中国光大正在展示我们的投资分析中的2个警告信号,其中一条让我们有点不舒服...
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
对于那些想要找到赢得投资这免费最近有内幕收购的不断增长的公司名单可能就是合适的选择。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on HK exchanges.
请注意,本文引用的市场回报反映了目前在香港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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