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China National Building Material Company Limited (HKG:3323) Just Missed Earnings: Here's What Analysts Think Will Happen Next
China National Building Material Company Limited (HKG:3323) Just Missed Earnings: Here's What Analysts Think Will Happen Next
China National Building Material Company Limited (HKG:3323) just released its latest half-yearly report and things are not looking great. It looks like a clear earnings miss, with both revenues and earnings falling well short of analyst predictions. Revenues of CN¥109b missed by 12%, and statutory earnings per share of CN¥0.65 fell short of forecasts by 10%. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
See our latest analysis for China National Building Material
SEHK:3323 Earnings and Revenue Growth August 29th 2022Taking into account the latest results, China National Building Material's 14 analysts currently expect revenues in 2022 to be CN¥256.7b, approximately in line with the last 12 months. Statutory earnings per share are forecast to decline 17% to CN¥1.34 in the same period. In the lead-up to this report, the analysts had been modelling revenues of CN¥269.7b and earnings per share (EPS) of CN¥1.64 in 2022. The analysts seem less optimistic after the recent results, reducing their sales forecasts and making a real cut to earnings per share numbers.
Despite the cuts to forecast earnings, there was no real change to the HK$11.74 price target, showing that the analysts don't think the changes have a meaningful impact on its intrinsic value. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic China National Building Material analyst has a price target of HK$17.03 per share, while the most pessimistic values it at HK$7.76. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 3.1% by the end of 2022. This indicates a significant reduction from annual growth of 11% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 4.9% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - China National Building Material is expected to lag the wider industry.
The Bottom Line
The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Unfortunately, they also downgraded their revenue estimates, and our data indicates revenues are expected to perform worse than the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have forecasts for China National Building Material going out to 2024, and you can see them free on our platform here.
You should always think about risks though. Case in point, we've spotted 2 warning signs for China National Building Material you should be aware of.
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.
中国建材股份有限公司(HKG:3323)刚刚发布了最新的半年报,情况看起来并不乐观。这看起来像是一个明显的盈利未达预期,收入和收益都远低于分析师的预测。109亿加元的营收低于预期12%,0.65加元的法定每股收益低于预期10%。盈利对投资者来说是一个重要的时刻,因为他们可以跟踪一家公司的表现,看看分析师对明年的预测,以及对该公司的情绪是否发生了变化。因此,我们收集了最新的盈利后法定共识估计,看看明年可能会发生什么。
参见我们对中国建材的最新分析
联交所:3323盈利及收入增长2022年8月29日考虑到最新的业绩,中国建材的14位分析师目前预计2022年的收入为2567亿元人民币,与过去12个月大致持平。预计同期法定每股收益将下降17%,至1.34加元。在本报告发布前,分析师一直在模拟2022年的收入为2697亿加元,每股收益为1.64加元。在最近的财报公布后,分析师们似乎不那么乐观了,他们下调了销售预期,并大幅下调了每股收益数据。
尽管下调了预期收益,但11.74港元的目标价并未发生实质性变化,这表明分析师认为这些变化不会对其内在价值产生重大影响。共识价格目标只是个别分析师目标的平均值,因此-看看基础估计的范围有多大可能很方便。最乐观的中国建材分析师的目标价为每股17.03港元,而最悲观的分析师则认为目标价为7.76港元。这是一个相当广泛的估计价差,表明分析师们预测了该业务可能出现的各种结果。
现在看一看更大的图景,我们可以理解这些预测的方法之一是看看它们与过去的业绩和行业增长估计如何比较。这些预估意味着销售预计将放缓,预计到2022年底,年化收入将下降3.1%。这表明,与过去五年11%的年增长率相比,这一数字大幅下降。相比之下,我们的数据表明,在可预见的未来,同一行业的其他公司(有分析师覆盖)的收入预计将以每年4.9%的速度增长。因此,尽管中国建材的营收预计将萎缩,但这片乌云并没有带来一线希望--预计它将落后于整个行业。
底线
最重要的是,分析师们下调了他们的每股收益预期,表明业绩公布后,市场人气明显下降。不幸的是,他们也下调了收入预期,我们的数据表明,收入预计会比整个行业表现得更差。即便如此,每股收益对企业的内在价值更为重要。共识目标价没有实际变化,这表明根据最新估计,该业务的内在价值没有发生任何重大变化。
考虑到这一点,我们仍然认为,投资者需要考虑的更长期的业务轨迹要重要得多。我们有中国建材到2024年的预测,你可以在我们的平台上免费看到。
不过,你应该始终考虑风险。举个例子,我们发现中国建材的2个警示标志你应该意识到。
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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