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Risks Still Elevated At These Prices As Riverine China Holdings Limited (HKG:1417) Shares Dive 27%
Risks Still Elevated At These Prices As Riverine China Holdings Limited (HKG:1417) Shares Dive 27%
Riverine China Holdings Limited (HKG:1417) shareholders won't be pleased to see that the share price has had a very rough month, dropping 27% and undoing the prior period's positive performance. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on a 38% share price drop.
Even after such a large drop in price, given close to half the companies in Hong Kong have price-to-earnings ratios (or "P/E's") below 8x, you may still consider Riverine China Holdings as a stock to avoid entirely with its 16.7x P/E ratio. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
For example, consider that Riverine China Holdings' financial performance has been poor lately as it's earnings have been in decline. One possibility is that the P/E is high because investors think the company will still do enough to outperform the broader market in the near future. If not, then existing shareholders may be quite nervous about the viability of the share price.
View our latest analysis for Riverine China Holdings
SEHK:1417 Price Based on Past Earnings September 29th 2022 We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our free report on Riverine China Holdings' earnings, revenue and cash flow.How Is Riverine China Holdings' Growth Trending?
There's an inherent assumption that a company should far outperform the market for P/E ratios like Riverine China Holdings' to be considered reasonable.
If we review the last year of earnings, dishearteningly the company's profits fell to the tune of 21%. Regardless, EPS has managed to lift by a handy 22% in aggregate from three years ago, thanks to the earlier period of growth. Although it's been a bumpy ride, it's still fair to say the earnings growth recently has been mostly respectable for the company.
Weighing that recent medium-term earnings trajectory against the broader market's one-year forecast for expansion of 20% shows it's noticeably less attractive on an annualised basis.
In light of this, it's alarming that Riverine China Holdings' P/E sits above the majority of other companies. Apparently many investors in the company are way more bullish than recent times would indicate and aren't willing to let go of their stock at any price. There's a good chance existing shareholders are setting themselves up for future disappointment if the P/E falls to levels more in line with recent growth rates.
The Key Takeaway
A significant share price dive has done very little to deflate Riverine China Holdings' very lofty P/E. It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
Our examination of Riverine China Holdings revealed its three-year earnings trends aren't impacting its high P/E anywhere near as much as we would have predicted, given they look worse than current market expectations. Right now we are increasingly uncomfortable with the high P/E as this earnings performance isn't likely to support such positive sentiment for long. Unless the recent medium-term conditions improve markedly, it's very challenging to accept these prices as being reasonable.
You need to take note of risks, for example - Riverine China Holdings has 2 warning signs (and 1 which shouldn't be ignored) we think you should know about.
You might be able to find a better investment than Riverine China Holdings. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a P/E below 20x (but have proven they can grow earnings).
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.
江河中国控股有限公司(HKG:1417)股东不会高兴看到股价经历了非常艰难的一个月,下跌了27%,抹去了前一段时间的积极表现。在过去12个月里一直持有股票的股东非但没有获得回报,反而坐在股价下跌38%的位置上。
即使在股价下跌如此之大之后,考虑到近一半的香港公司的市盈率(或“市盈率”)低于8倍,你仍可能认为Riverine China Holdings是一只应该完全避免的股票,因为它的市盈率为16.7倍。然而,仅仅从表面上看待市盈率是不明智的,因为可能会有一个解释,为什么它如此之高。
例如,考虑到Riverine China Holdings最近的财务表现一直很差,因为它的收益一直在下降。一种可能性是,市盈率很高,因为投资者认为该公司在不久的将来仍将采取足够的措施来跑赢大盘。如果不是,那么现有股东可能会对股价的生存能力感到相当紧张。
查看我们对Riverine China Holdings的最新分析
联交所:1417基于过去收益的价格2022年9月29日我们没有分析师的预测,但您可以通过查看我们的免费Riverine China Holdings的收益、收入和现金流报告。Riverine China Holdings的增长趋势如何?
有一种固有的假设,即一家公司的市盈率应该远远超过市场,才能被认为是合理的。
如果我们回顾过去一年的收益,令人沮丧的是,该公司的利润下降了21%。无论如何,得益于早期的增长,每股收益比三年前总共提高了22%。尽管这是一段坎坷的旅程,但公平地说,最近该公司的收益增长基本上是值得尊敬的。
将最近的中期收益轨迹与大盘一年增长20%的预测进行比较,结果显示,按年率计算,它的吸引力明显下降。
有鉴于此,Riverine China Holdings的市盈率高于大多数其他公司,这令人担忧。显然,该公司的许多投资者比最近的情况所显示的要乐观得多,不愿以任何价格抛售他们的股票。如果市盈率下降到与最近的增长率更一致的水平,现有股东很可能会让自己未来感到失望。
关键的外卖
股价的大幅下跌对江河中国控股非常高的市盈率几乎没有起到什么作用。有人认为,在某些行业,市盈率是衡量价值的次要指标,但它可以成为一个强大的商业信心指标。
我们对Riverine China Holdings的调查显示,该公司三年的盈利趋势对其高市盈率的影响并不像我们预期的那么大,因为它们看起来比目前的市场预期更糟糕。目前,我们对高市盈率越来越感到不安,因为这种盈利表现不太可能长期支撑这种积极情绪。除非最近的中期状况明显改善,否则要接受这些价格是合理的是非常具有挑战性的。
你需要注意风险,例如-Riverine China Holdings有两个警告信号(还有一点不可忽视)我们认为你应该知道这一点。
你或许能找到比Riverine China Holdings更好的投资。如果您想要选择可能的候选人,请查看以下内容免费令人感兴趣的市盈率低于20倍的公司名单(但已证明它们可以增加收益)。
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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