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The One-year Shareholder Returns and Company Earnings Persist Lower as China National Building Material (HKG:3323) Stock Falls a Further 7.7% in Past Week
The One-year Shareholder Returns and Company Earnings Persist Lower as China National Building Material (HKG:3323) Stock Falls a Further 7.7% in Past Week
The simplest way to benefit from a rising market is to buy an index fund. Active investors aim to buy stocks that vastly outperform the market - but in the process, they risk under-performance. Investors in China National Building Material Company Limited (HKG:3323) have tasted that bitter downside in the last year, as the share price dropped 40%. That's disappointing when you consider the market declined 21%. Longer term shareholders haven't suffered as badly, since the stock is down a comparatively less painful 1.4% in three years. The falls have accelerated recently, with the share price down 14% in the last three months. But this could be related to the weak market, which is down 11% in the same period.
If the past week is anything to go by, investor sentiment for China National Building Material isn't positive, so let's see if there's a mismatch between fundamentals and the share price.
View our latest analysis for China National Building Material
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
Unfortunately China National Building Material reported an EPS drop of 9.0% for the last year. The share price decline of 40% is actually more than the EPS drop. Unsurprisingly, given the lack of EPS growth, the market seems to be more cautious about the stock. The less favorable sentiment is reflected in its current P/E ratio of 3.81.
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
SEHK:3323 Earnings Per Share Growth September 19th 2022This free interactive report on China National Building Material's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
What About Dividends?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. In the case of China National Building Material, it has a TSR of -35% for the last 1 year. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
A Different Perspective
We regret to report that China National Building Material shareholders are down 35% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 21%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Longer term investors wouldn't be so upset, since they would have made 10%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For instance, we've identified 2 warning signs for China National Building Material that you should be aware of.
Of course China National Building Material may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
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.
从上涨的市场中获益的最简单方式是购买指数基金。积极投资者的目标是买入表现远远好于大盘的股票--但在这个过程中,他们面临表现不佳的风险。投资者在中国建材股份有限公司(HKG:3323)在过去的一年中,随着股价下跌了40%,他们尝到了苦涩的苦果。当你考虑到市场下跌了21%时,这是令人失望的。较长期股东的损失没有那么严重,因为该股在三年内下跌了1.4%,跌幅相对较小。股价最近加速下跌,在过去三个月里下跌了14%。但这可能与疲软的市场有关,同期市场下跌了11%。
如果以过去一周为标准,投资者对中国建材的情绪并不乐观,所以让我们看看基本面和股价之间是否存在错配。
查看我们对中国建材的最新分析
在他的文章中格雷厄姆和多德斯维尔的超级投资者沃伦·巴菲特描述了股价并不总是理性地反映一家企业的价值。一种不完美但简单的方法来考虑市场对一家公司的看法是如何改变的,那就是将每股收益(EPS)的变化与股价走势进行比较。
不幸的是,中国建材报告去年的每股收益下降了9.0%。股价下跌40%,其实比EPS的跌幅还要大。不出所料,鉴于EPS增长乏力,市场似乎对该股更为谨慎。这种不那么有利的情绪反映在该公司目前3.81的市盈率上。
下图显示了EPS是如何随着时间的推移进行跟踪的(如果您点击该图像,您可以看到更多详细信息)。
联交所:每股盈利增长3323 2022年9月19日这免费如果你想进一步调查中国建材的股票,关于该公司收益、收入和现金流的互动报告是一个很好的起点。
那股息呢?
在考察投资回报时,重要的是要考虑到股东总回报(TSR)和股价回报。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。以中国建材为例,最近一年的总资产收益率为-35%。这超过了我们之前提到的它的股价回报。而且,猜测股息支付在很大程度上解释了这种差异是没有好处的!
不同的视角
我们遗憾地报告,中国建材的股东今年以来下跌了35%(即使包括股息)。不幸的是,这比大盘21%的跌幅还要糟糕。话虽如此,在下跌的市场中,一些股票不可避免地会被超卖。关键是要密切关注基本面的发展。较长期的投资者不会如此沮丧,因为他们在五年内每年会获得10%的收益。如果基本面数据继续显示长期可持续增长,当前的抛售可能是一个值得考虑的机会。虽然值得考虑市场状况对股价可能产生的不同影响,但还有其他更重要的因素。例如,我们已经确定中国建材的2个警示标志这一点你应该知道。
当然了中国建材可能不是最值得买入的股票。所以你可能想看看这个免费成长型股票的集合。
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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