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PCCW Limited's (HKG:8) Earnings Haven't Escaped The Attention Of Investors
PCCW Limited's (HKG:8) Earnings Haven't Escaped The Attention Of Investors
When close to half the companies in Hong Kong have price-to-earnings ratios (or "P/E's") below 9x, you may consider PCCW Limited (HKG:8) as a stock to avoid entirely with its 37.2x P/E ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E.
PCCW certainly has been doing a good job lately as its earnings growth has been positive while most other companies have been seeing their earnings go backwards. It seems that many are expecting the company to continue defying the broader market adversity, which has increased investors' willingness to pay up for the stock. If not, then existing shareholders might be a little nervous about the viability of the share price.
See our latest analysis for PCCW
SEHK:8 Price Based on Past Earnings September 12th 2022 Keen to find out how analysts think PCCW's future stacks up against the industry? In that case, our free report is a great place to start.Is There Enough Growth For PCCW?
PCCW's P/E ratio would be typical for a company that's expected to deliver very strong growth, and importantly, perform much better than the market.
Retrospectively, the last year delivered an exceptional 135% gain to the company's bottom line. However, this wasn't enough as the latest three year period has seen a very unpleasant 8.5% drop in EPS in aggregate. Therefore, it's fair to say the earnings growth recently has been undesirable for the company.
Shifting to the future, estimates from the three analysts covering the company suggest earnings should grow by 22% per year over the next three years. That's shaping up to be materially higher than the 14% each year growth forecast for the broader market.
In light of this, it's understandable that PCCW's P/E sits above the majority of other companies. Apparently shareholders aren't keen to offload something that is potentially eyeing a more prosperous future.
The Key Takeaway
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 PCCW'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. Unless these conditions change, they will continue to provide strong support to the share price.
Before you take the next step, you should know about the 2 warning signs for PCCW that we have uncovered.
Of course, you might also be able to find a better stock than PCCW. 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.
当接近一半的香港公司的市盈率(或市盈率)低于9倍时,你可以考虑电讯盈科有限公司(HKG:8)作为一只股票,以其37.2倍的市盈率完全避免。尽管如此,我们还需要更深入地挖掘,以确定市盈率大幅上升是否有合理的基础。
电讯盈科最近的表现肯定不错,因为它的盈利增长一直是正数,而大多数其他公司的盈利却在倒退。似乎许多人预计,该公司将继续无视更广泛的市场困境,这增加了投资者支付高价购买该股的意愿。如果不是,那么现有股东可能会对股价的生存能力感到有点紧张。
查看我们对电讯盈科的最新分析
联交所:8基于过去收益的价格2022年9月12日渴望了解分析师如何看待电讯盈科的未来与行业的对比?那样的话,我们的免费报告是一个很好的起点。电讯盈科有足够的增长吗?
对于一家有望实现非常强劲增长、重要的是表现远远好于市场的公司来说,电讯盈科的市盈率将是典型的。
回顾过去一年,公司的利润实现了135%的不同寻常的增长。然而,这还不够,因为在最近三年的时间里,每股收益总计下降了非常令人不快的8.5%。因此,公平地说,最近的收益增长对公司来说是不可取的。
展望未来,跟踪该公司的三位分析师的估计显示,未来三年,该公司的收益将以每年22%的速度增长。这将大大高于大盘每年14%的增长预期。
有鉴于此,电讯盈科的市盈率高于其他大多数公司也是可以理解的。显然,股东们并不热衷于出售那些可能着眼于更繁荣未来的资产。
关键的外卖
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。
正如我们所怀疑的那样,我们对电讯盈科分析师预测的审查显示,其优越的收益预期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。除非这些条件改变,否则将继续为股价提供强有力的支撑。
在您采取下一步之前,您应该了解电讯盈科的2个警告标志我们已经发现了。
当然了,你或许还能找到比电讯盈科更好的股票。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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