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Strong Week for Wharf Real Estate Investment (HKG:1997) Shareholders Doesn't Alleviate Pain of Three-year Loss
Strong Week for Wharf Real Estate Investment (HKG:1997) Shareholders Doesn't Alleviate Pain of Three-year Loss
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But if you try your hand at stock picking, your risk returning less than the market. Unfortunately, that's been the case for longer term Wharf Real Estate Investment Company Limited (HKG:1997) shareholders, since the share price is down 19% in the last three years, falling well short of the market decline of around 1.5%.
While the last three years has been tough for Wharf Real Estate Investment shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.
See our latest analysis for Wharf Real Estate Investment
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
We know that Wharf Real Estate Investment has been profitable in the past. However, it made a loss in the last twelve months, suggesting profit may be an unreliable metric at this stage. Other metrics might give us a better handle on how its value is changing over time.
With revenue flat over three years, it seems unlikely that the share price is reflecting the top line. We're not entirely sure why the share price is dropped, but it does seem likely investors have become less optimistic about the business.
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
SEHK:1997 Earnings and Revenue Growth September 8th 2022Wharf Real Estate Investment is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. So it makes a lot of sense to check out what analysts think Wharf Real Estate Investment will earn in the future (free analyst consensus estimates)
What About Dividends?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Wharf Real Estate Investment the TSR over the last 3 years was -8.1%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
A Different Perspective
Wharf Real Estate Investment shareholders may not have made money over the last year, but their total loss of 8.9% ( including dividends) isn't as bad as the market loss of around 8.9%. Unfortunately, last year's performance may indicate unresolved challenges, given that it's even worse than the annualised loss of 2.6% over the last three years. It should concern shareholders to see the pace of losses accelerate, and it makes us alert to the possibility that underlying business is not doing well. 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. For example, we've discovered 1 warning sign for Wharf Real Estate Investment that you should be aware of before investing here.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
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.
为了证明挑选个股的努力是合理的,值得努力超越市场指数基金的回报。但如果你试着选股,你的风险回报就会低于市场。不幸的是,从长远来看,情况就是这样九龙仓置业股份有限公司(HKG:1997)股东,因为过去三年股价下跌了19%,远远低于市场约1.5%的跌幅。
虽然过去三年对九龙仓置业的股东来说很艰难,但过去一周出现了希望的迹象。因此,让我们看看较长期的基本面,看看它们是否是负回报的驱动因素。
参见我们对九龙仓置业的最新分析
虽然市场是一种强大的定价机制,但股价反映的是投资者情绪,而不仅仅是潜在的企业表现。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
我们知道九龙仓置业过去一直是盈利的。然而,它在过去12个月里出现了亏损,这表明在这个阶段利润可能是一个不可靠的指标。其他指标可能会让我们更好地了解其价值是如何随着时间的推移而变化的。
由于三年来营收持平,股价似乎不太可能反映营收。我们不完全确定股价下跌的原因,但看起来投资者似乎对该业务不那么乐观了。
您可以在下图中看到收益和收入随时间的变化(单击图表查看确切的值)。
联交所:1997年盈利及收入增长2022年9月8日九龙仓置业是一只知名的股票,有大量的分析师报道,这表明对未来的增长有一定的可见性。因此,看看分析师对九龙仓置业未来收入的看法是很有意义的(自由分析师一致估计)。
那股息呢?
重要的是要考虑任何给定股票的总股东回报以及股价回报。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。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,九龙仓置业在过去3年的总回报率为-8.1%,好于上述股价回报率。这在很大程度上是其股息支付的结果!
不同的视角
九龙仓置业的股东在过去一年里可能没有赚到钱,但他们8.9%的总亏损(包括股息)没有市场亏损约8.9%那么糟糕。不幸的是,去年的表现可能预示着尚未解决的挑战,因为它甚至比过去三年2.6%的年化亏损还要糟糕。它应该让股东们担心亏损的速度加快,并让我们警惕潜在业务表现不佳的可能性。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。例如,我们发现九龙仓置业的1个警示标志在这里投资之前你应该意识到这一点。
当然了,如果你把目光投向别处,你可能会发现这是一笔很棒的投资。所以让我们来看看这个免费我们预计收益将会增长的公司名单。
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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