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The Five-year Underlying Earnings Growth at First Resources (SGX:EB5) Is Promising, but the Shareholders Are Still in the Red Over That Time
The Five-year Underlying Earnings Growth at First Resources (SGX:EB5) Is Promising, but the Shareholders Are Still in the Red Over That Time
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. So we wouldn't blame long term First Resources Limited (SGX:EB5) shareholders for doubting their decision to hold, with the stock down 25% over a half decade. Shareholders have had an even rougher run lately, with the share price down 18% in the last 90 days.
With the stock having lost 4.0% 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 First Resources
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 half decade during which the share price slipped, First Resources actually saw its earnings per share (EPS) improve by 9.3% per year. So it doesn't seem like EPS is a great guide to understanding how the market is valuing the stock. Or possibly, the market was previously very optimistic, so the stock has disappointed, despite improving EPS.
Because of the sharp contrast between the EPS growth rate and the share price growth, we're inclined to look to other metrics to understand the changing market sentiment around the stock.
We note that the dividend has remained healthy, so that wouldn't really explain the share price drop. While it's not completely obvious why the share price is down, a closer look at the company's history might help explain it.
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
SGX:EB5 Earnings and Revenue Growth September 26th 2022First Resources is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. You can see what analysts are predicting for First Resources in this interactive graph of future profit 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of First Resources, it has a TSR of -14% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
Investors in First Resources had a tough year, with a total loss of 3.4% (including dividends), against a market gain of about 6.0%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 3% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. 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. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with First Resources (at least 1 which is a bit concerning) , and understanding them should be part of your investment process.
Of course First Resources 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 SG 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.
选股的主要目的是寻找跑赢大盘的股票。但在任何投资组合中,个股之间的结果都会喜忧参半。所以我们不会责怪长期第一资源有限公司(新加坡证券交易所股票代码:EB5)股东对他们持有股票的决定表示怀疑,该股在五年内下跌了25%。股东们最近的表现更加艰难,股价在过去90天里下跌了18%。
鉴于该公司股价在过去一周下跌了4.0%,我们有必要看看公司的业绩,看看是否有任何危险信号。
请参阅我们对First Resources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,在股价下滑的五年里,第一资源的每股收益(EPS)实际上以每年9.3%的速度增长。因此,每股收益似乎并不能很好地指导人们理解市场对股票的估值。也有可能,此前市场非常乐观,因此尽管每股收益有所改善,但该股仍令人失望。
由于每股收益增长率和股价增长率之间的鲜明对比,我们倾向于通过其他指标来了解围绕股票不断变化的市场情绪。
我们注意到,股息一直保持健康,因此这并不能真正解释股价下跌的原因。虽然股价下跌的原因并不完全明显,但仔细看看该公司的历史可能有助于解释这一点。
下图描述了收益和收入随时间的变化(通过单击图像来揭示确切的价值)。
新交所:2022年9月26日EB5收益和收入增长First Resources是一只著名的股票,有大量的分析师报道,这表明对未来增长的一些可见性。您可以在这里看到分析师对First Resources的预测互动未来利润预估图表。
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。公平地说,TSR为支付股息的股票提供了更完整的图景。就First Resources而言,它在过去5年的TSR为-14%。这超过了我们之前提到的它的股价回报。该公司支付的股息因此提振了总计股东回报。
不同的视角
First Resources的投资者经历了艰难的一年,总亏损3.4%(包括股息),而市场收益约为6.0%。即使是好股票的股价有时也会下跌,但我们希望在对企业产生太大兴趣之前,看到企业的基本指标有所改善。遗憾的是,去年的业绩为糟糕的表现画上了句号,股东们在五年内面临着每年3%的总亏损。一般来说,股价长期疲软可能是一个坏信号,尽管反向投资者可能会希望研究这只股票,希望它能好转。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,考虑一下无处不在的投资风险幽灵。我们已经确定了两个警告信号与First Resources(至少1个,这有点令人担忧),并了解他们应该是你投资过程的一部分。
当然了First Resources可能不是最值得购买的股票。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SG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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