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Getting In Cheap On Dongjiang Environmental Company Limited (HKG:895) Might Be Difficult
Getting In Cheap On Dongjiang Environmental Company Limited (HKG:895) Might Be Difficult
With a price-to-earnings (or "P/E") ratio of 12.4x Dongjiang Environmental Company Limited (HKG:895) may be sending bearish signals at the moment, given that almost half of all companies in Hong Kong have P/E ratios under 8x and even P/E's lower than 4x are not unusual. However, the P/E might be high for a reason and it requires further investigation to determine if it's justified.
Dongjiang Environmental could be doing better as its earnings have been going backwards lately while most other companies have been seeing positive earnings growth. It might be that many expect the dour earnings performance to recover substantially, which has kept the P/E from collapsing. If not, then existing shareholders may be extremely nervous about the viability of the share price.
Check out our latest analysis for Dongjiang Environmental
SEHK:895 Price Based on Past Earnings August 28th 2022 Keen to find out how analysts think Dongjiang Environmental's future stacks up against the industry? In that case, our free report is a great place to start.What Are Growth Metrics Telling Us About The High P/E?
The only time you'd be truly comfortable seeing a P/E as high as Dongjiang Environmental's is when the company's growth is on track to outshine the market.
Retrospectively, the last year delivered a frustrating 50% decrease to the company's bottom line. The last three years don't look nice either as the company has shrunk EPS by 57% in aggregate. Accordingly, shareholders would have felt downbeat about the medium-term rates of earnings growth.
Turning to the outlook, the next three years should generate growth of 20% per year as estimated by the twin analysts watching the company. That's shaping up to be materially higher than the 15% per annum growth forecast for the broader market.
In light of this, it's understandable that Dongjiang Environmental's P/E sits above the majority of other companies. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.
The Bottom Line On Dongjiang Environmental's P/E
Typically, we'd caution against reading too much into price-to-earnings ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
As we suspected, our examination of Dongjiang Environmental's analyst forecasts revealed that its superior earnings outlook is contributing to its high P/E. Right now shareholders are comfortable with the P/E as they are quite confident future earnings aren't under threat. It's hard to see the share price falling strongly in the near future under these circumstances.
And what about other risks? Every company has them, and we've spotted 3 warning signs for Dongjiang Environmental (of which 1 is a bit unpleasant!) you should know about.
You might be able to find a better investment than Dongjiang Environmental. 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.
市盈率(P/E)为12.4倍东江环境股份有限公司香港上市公司(HKG:895)目前可能发出看跌信号,因为几乎一半的香港公司的市盈率低于8倍,即使市盈率低于4倍也并不罕见。然而,市盈率高可能是有原因的,需要进一步调查才能确定它是否合理。
东江环境可能会做得更好,因为该公司最近的收益一直在回落,而其他大多数公司的收益都出现了正增长。这可能是因为许多人预计低迷的盈利表现将大幅复苏,这使得市盈率没有崩溃。如果不是,那么现有股东可能会对股价的生存能力感到极度紧张。
查看我们对东江环境的最新分析
联交所:895基于过去收益的价格2022年8月28日渴望了解分析师如何看待东江环境的未来与行业的竞争?那样的话,我们的免费报告是一个很好的起点。增长指标告诉我们关于高市盈率的哪些信息?
只有当东江环境的增长走上超越市场的轨道时,你才会真正放心地看到东江环境的市盈率如此之高。
回顾过去一年,该公司的利润令人沮丧地下降了50%。过去三年的情况也不妙,该公司每股收益总计缩水了57%。因此,股东们会对中期盈利增长率感到悲观。
谈到前景,正如关注该公司的两位分析师估计的那样,未来三年应该会产生每年20%的增长。这将大大高于大盘15%的年增长率预期。
有鉴于此,东江环境的市盈率高于其他大多数公司也是可以理解的。似乎大多数投资者都在期待这种强劲的未来增长,并愿意为该股支付更高的价格。
东江环境市盈率的底线
通常,在做出投资决策时,我们会告诫不要过度解读市盈率,尽管它可以充分揭示其他市场参与者对该公司的看法。
正如我们怀疑的那样,我们对东江环境分析师预测的审查显示,其优越的盈利前景是导致其高市盈率的原因之一。目前,股东们对市盈率感到满意,因为他们非常有信心未来的收益不会受到威胁。在这种情况下,很难看到股价在不久的将来强劲下跌。
还有其他风险呢?每家公司都有它们,我们已经发现3东江环境警示标志(其中1个有点不愉快!)你应该知道。
你也许能找到比东江环境更好的投资。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)。
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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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。
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