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Smart City Development Holdings Limited (HKG:8268) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected
Smart City Development Holdings Limited (HKG:8268) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected
The Smart City Development Holdings Limited (HKG:8268) share price has done very well over the last month, posting an excellent gain of 29%. The last 30 days bring the annual gain to a very sharp 100%.
Following the firm bounce in price, Smart City Development Holdings' price-to-earnings (or "P/E") ratio of 22.9x might make it look like a strong sell right now compared to the market in Hong Kong, where around half of the companies have P/E ratios below 9x and even P/E's below 4x 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 lofty.
As an illustration, earnings have deteriorated at Smart City Development Holdings over the last year, which is not ideal at all. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/E from collapsing. If not, then existing shareholders may be quite nervous about the viability of the share price.
Check out our latest analysis for Smart City Development Holdings
SEHK:8268 Price Based on Past Earnings September 8th 2022 Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Smart City Development Holdings will help you shine a light on its historical performance.How Is Smart City Development Holdings' Growth Trending?
There's an inherent assumption that a company should far outperform the market for P/E ratios like Smart City Development Holdings' to be considered reasonable.
Retrospectively, the last year delivered a frustrating 26% decrease to the company's bottom line. At least EPS has managed not to go completely backwards from three years ago in aggregate, thanks to the earlier period of growth. Accordingly, shareholders probably wouldn't have been overly satisfied with the unstable medium-term growth rates.
Weighing that recent medium-term earnings trajectory against the broader market's one-year forecast for expansion of 22% shows it's noticeably less attractive on an annualised basis.
In light of this, it's alarming that Smart City Development Holdings' P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than recent times would indicate and aren't willing to let go of their stock at any price. Only the boldest would assume these prices are sustainable as a continuation of recent earnings trends is likely to weigh heavily on the share price eventually.
What We Can Learn From Smart City Development Holdings' P/E?
The strong share price surge has got Smart City Development Holdings' P/E rushing to great heights as well. 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.
Our examination of Smart City Development Holdings revealed its three-year earnings trends aren't impacting its high P/E anywhere near as much as we would have predicted, given they look worse than current market expectations. Right now we are increasingly uncomfortable with the high P/E as this earnings performance isn't likely to support such positive sentiment for long. If recent medium-term earnings trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.
It is also worth noting that we have found 4 warning signs for Smart City Development Holdings (1 makes us a bit uncomfortable!) that you need to take into consideration.
Of course, you might also be able to find a better stock than Smart City Development Holdings. So you may wish to see this free collection of other companies that sit on P/E's below 20x and have grown earnings strongly.
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.
这个智慧城市发展控股有限公司(HKG:8268)股价在过去一个月表现非常出色,录得29%的出色涨幅。在过去的30天里,年度涨幅达到了非常大的100%。
随着股价的强劲反弹,智慧城市发展控股公司22.9倍的市盈率可能会让它看起来像是一个强劲的卖盘,而在香港市场,大约一半的公司的市盈率低于9倍,甚至市盈率低于4倍的情况也很常见。然而,仅仅从表面上看待市盈率是不明智的,因为可能会有一个解释,为什么它如此之高。
举例来说,智能城市发展控股公司的收益在过去一年里一直在恶化,这根本不是理想的情况。许多人可能预计,该公司在未来一段时间内的表现仍将好于大多数其他公司,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相当紧张。
查看我们对智慧城市发展控股公司的最新分析
联交所:8268基于过去收益的价格2022年9月8日想要了解公司的收益、收入和现金流的全貌吗?那么我们的免费智慧城市发展控股的报告将帮助您了解其历史业绩。智慧城市发展控股公司的增长趋势如何?
有一种固有的假设,即一家公司的市盈率应该远远超过市场,才能被认为是合理的。
回顾过去一年,该公司的利润令人沮丧地下降了26%。至少,由于早期的增长,每股收益总体上没有从三年前完全倒退。因此,股东们可能不会对不稳定的中期增长率过于满意。
将最近的中期收益轨迹与大盘一年增长22%的预测进行比较,结果显示,按年率计算,它的吸引力明显下降。
有鉴于此,智慧城市发展控股公司的市盈率高于其他大多数公司,这令人担忧。显然,该公司的许多投资者比最近的情况所显示的要乐观得多,不愿以任何价格抛售他们的股票。只有最大胆的人才会认为这些价格是可持续的,因为最近盈利趋势的延续最终可能会对股价造成沉重压力。
智慧城市发展控股的市盈率有什么可借鉴之处?
强劲的股价飙升也推动智慧城市发展控股公司的市盈率飙升。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。
我们对智慧城市发展控股公司的调查显示,其三年盈利趋势对其高市盈率的影响并不像我们预期的那么大,因为它们看起来比目前的市场预期更糟糕。目前,我们对高市盈率越来越感到不安,因为这种盈利表现不太可能长期支撑这种积极情绪。如果近期的中期盈利趋势持续下去,将使股东的投资面临重大风险,潜在投资者面临支付过高溢价的危险。
同样值得注意的是,我们发现智慧城市发展控股有限公司的4个警告标志(1让我们有点不舒服!)这是你需要考虑的。
当然了,你还可以找到一只比智慧城市发展控股公司更好的股票。所以你可能想看看这个免费市盈率低于20倍、盈利增长强劲的其他公司的集合。
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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