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The five-year shareholder returns and company earnings persist lower as China Railway Signal & Communication (HKG:3969) stock falls a further 3.6% in past week
The five-year shareholder returns and company earnings persist lower as China Railway Signal & Communication (HKG:3969) stock falls a further 3.6% in past week
For many, the main point of investing is to generate higher returns than the overall market. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term China Railway Signal & Communication Corporation Limited (HKG:3969) shareholders for doubting their decision to hold, with the stock down 58% over a half decade.
Since China Railway Signal & Communication has shed CN¥953m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
Check out our latest analysis for China Railway Signal & Communication
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
Looking back five years, both China Railway Signal & Communication's share price and EPS declined; the latter at a rate of 2.8% per year. This reduction in EPS is less than the 16% annual reduction in the share price. This implies that the market was previously too optimistic about the stock. The low P/E ratio of 6.66 further reflects this reticence.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
SEHK:3969 Earnings Per Share Growth August 3rd 2022We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. It might be well worthwhile taking a look at our free report on China Railway Signal & Communication'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). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, China Railway Signal & Communication's TSR for the last 5 years was -44%, which exceeds the share price return mentioned earlier. And there's no prize for guessing that the dividend payments largely explain the divergence!
A Different Perspective
While it's certainly disappointing to see that China Railway Signal & Communication shares lost 6.8% throughout the year, that wasn't as bad as the market loss of 20%. Of far more concern is the 8% p.a. loss served to shareholders over the last five years. While the losses are slowing we doubt many shareholders are happy with the stock. 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 risks, for instance. Every company has them, and we've spotted 1 warning sign for China Railway Signal & Communication you should know about.
If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.
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.
对许多人来说,投资的主要目的是创造比整体市场更高的回报。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铁路信号通信股份有限公司(HKG:3969)股东对他们持有股票的决定表示怀疑,该股在五年内下跌了58%。
由于中国铁路信号通信在过去7天里市值缩水9.53亿元人民币,让我们看看长期下跌是否受到了业务经济的推动。
查看我们对中国铁路信号通信的最新分析
本杰明·格雷厄姆(Benjamin Graham)的原话是:短期内,市场是一台投票机,但从长远来看,它是一台称重机。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。
回顾过去的五年,中国铁路信号通信的股价和每股收益都出现了下降,后者以每年2.8%的速度下降。每股收益的这一降幅低于该公司股价每年16%的降幅。这暗示市场此前对该股过于乐观。6.66的低市盈率进一步反映了这种沉默。
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)。
联交所:每股盈利增长3969 2022年8月3日我们很高兴地报告,这位首席执行官的薪酬比类似资本公司的大多数首席执行官都要低。但是,尽管CEO的薪酬总是值得检查的,但真正重要的问题是,公司能否在未来实现收益增长。也许很值得一看我们的免费中国铁路信号通信公司的收益、收入和现金流报告。
那股息呢?
除了衡量股价回报外,投资者还应考虑总股东回报(TSR)。虽然股价回报只反映股价的变动,但TSR包括股息的价值(假设股息再投资),以及任何折价集资或分拆所带来的利益。公平地说,TSR为支付股息的股票提供了更完整的图景。碰巧的是,中国铁路信号通信最近5年的TSR为-44%,超过了前面提到的股价回报。而且,猜测股息支付在很大程度上解释了这种差异是没有好处的!
不同的视角
尽管看到中国铁路信号通信股价全年下跌6.8%肯定令人失望,但这并没有股市下跌20%那么糟糕。更令人担忧的是8%的年利率。在过去的五年里,亏损给股东带来了损失。虽然亏损正在放缓,但我们怀疑有多少股东对该股感到满意。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,考虑一下风险。每家公司都有它们,我们已经发现中国铁路信号通信1个警示标志你应该知道。
如果你像我一样,你会的不想怀念这一切吗?免费内部人士正在收购的成长型公司名单。
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。
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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