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Earnings Are Growing at Yuexiu Transport Infrastructure (HKG:1052) but Shareholders Still Don't Like Its Prospects
Earnings Are Growing at Yuexiu Transport Infrastructure (HKG:1052) but Shareholders Still Don't Like Its Prospects
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. We regret to report that long term Yuexiu Transport Infrastructure Limited (HKG:1052) shareholders have had that experience, with the share price dropping 49% in three years, versus a market decline of about 2.7%. Shareholders have had an even rougher run lately, with the share price down 23% in the last 90 days. Of course, this share price action may well have been influenced by the 13% decline in the broader market, throughout the period.
With the stock having lost 6.8% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.
See our latest analysis for Yuexiu Transport Infrastructure
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
During the unfortunate three years of share price decline, Yuexiu Transport Infrastructure actually saw its earnings per share (EPS) improve by 1.8% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Or else the company was over-hyped in the past, and so its growth has disappointed.
It's pretty reasonable to suspect the market was previously to bullish on the stock, and has since moderated expectations. Looking to other metrics might better explain the share price change.
We note that the dividend seems healthy enough, so that probably doesn't explain the share price drop. It's good to see that Yuexiu Transport Infrastructure has increased its revenue over the last three years. But it's not clear to us why the share price is down. It might be worth diving deeper into the fundamentals, lest an opportunity goes begging.
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
SEHK:1052 Earnings and Revenue Growth September 22nd 2022We know that Yuexiu Transport Infrastructure has improved its bottom line lately, but what does the future have in store? This free report showing analyst forecasts should help you form a view on Yuexiu Transport Infrastructure
What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Yuexiu Transport Infrastructure's TSR for the last 3 years was -37%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
A Different Perspective
Although it hurts that Yuexiu Transport Infrastructure returned a loss of 18% in the last twelve months, the broader market was actually worse, returning a loss of 20%. Unfortunately, last year's performance may indicate unresolved challenges, given that it's worse than the annualised loss of 3% over the last half decade. While some investors do well specializing in buying companies that are struggling (but nonetheless undervalued), don't forget that Buffett said that 'turnarounds seldom turn'. 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. To that end, you should learn about the 3 warning signs we've spotted with Yuexiu Transport Infrastructure (including 1 which makes us a bit uncomfortable) .
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
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。但几乎可以肯定的是,有时你会买入低于市场平均回报率的股票。我们很遗憾地报告这一长期的越秀交通基础设施有限公司(HKG:1052)股东有过这样的经历,股价在三年内下跌了49%,而市场跌幅约为2.7%。股东们最近的表现更加艰难,股价在过去90天里下跌了23%。当然,在此期间,这一股价走势很可能受到了大盘13%跌幅的影响。
鉴于该公司股价在过去一周下跌了6.8%,我们有必要看看公司的业绩,看看是否有任何危险信号。
查看我们对越秀交通基础设施的最新分析
虽然有效市场假说继续被一些人传授,但事实证明,市场是过度反应的动态系统,投资者并不总是理性的。通过比较每股收益(EPS)和股价随时间的变化,我们可以感受到投资者对一家公司的态度随着时间的推移发生了怎样的变化。
不幸的是,在股价下跌的三年里,越秀交通基础设施的每股收益(EPS)实际上以每年1.8%的速度增长。考虑到股价的反应,人们可能会怀疑,每股收益不是这段时间内业务表现的良好指南(可能是因为一次性的亏损或收益)。或者,该公司过去被过度炒作,因此其增长令人失望。
我们很有理由怀疑,市场此前看好该股,但后来又降低了预期。看看其他指标可能更好地解释了股价的变化。
我们注意到,股息似乎足够健康,所以这可能无法解释股价下跌的原因。很高兴看到越秀交通基础设施在过去三年里增加了收入。但我们不清楚为什么股价会下跌。或许有必要更深入地探究基本面,以免出现乞求的机会。
下图显示了收益和收入随时间的变化情况(如果您点击该图,您可以看到更多详细信息)。
联交所:1052盈利及收入增长2022年9月22日我们知道越秀交通基础设施最近提高了底线,但未来会是什么样子?这免费显示分析师预测的报告应该有助于您对越秀交通基础设施形成看法
那股息呢?
除了衡量股价回报外,投资者还应考虑总股东回报(TSR)。TSR包括任何剥离或贴现融资的价值,以及任何股息,基于股息再投资的假设。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。碰巧,越秀交通基建最近3年的TSR为-37%,超过了前面提到的股价回报。这在很大程度上是其股息支付的结果!
不同的视角
尽管越秀交通基建在最近12个月里回报了18%的亏损,令人痛心,但大盘实际上更糟糕,回报了20%的亏损。不幸的是,去年的表现可能预示着尚未解决的挑战,因为它比过去五年3%的年化损失更糟糕。虽然一些投资者擅长买入那些陷入困境(但估值仍然被低估)的公司,但不要忘记巴菲特曾说过,扭亏为盈的情况很少出现转机。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。为此,您应该了解3个警示标志我们发现了越秀交通基础设施(包括1个让我们有点不舒服的项目)。
对于那些想要找到赢得投资这免费最近有内幕收购的不断增长的公司名单可能就是合适的选择。
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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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。
风险及免责提示
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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