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China Glass Holdings Limited (HKG:3300) Shares Fly 26% But Investors Aren't Buying For Growth
China Glass Holdings Limited (HKG:3300) Shares Fly 26% But Investors Aren't Buying For Growth
Those holding China Glass Holdings Limited (HKG:3300) shares would be relieved that the share price has rebounded 26% in the last thirty days, but it needs to keep going to repair the recent damage it has caused to investor portfolios. Still, the 30-day jump doesn't change the fact that longer term shareholders have seen their stock decimated by the 54% share price drop in the last twelve months.
In spite of the firm bounce in price, China Glass Holdings' price-to-earnings (or "P/E") ratio of 2.6x might still make it look like a strong buy right now compared to the market in Hong Kong, where around half of the companies have P/E ratios above 9x and even P/E's above 19x are quite common. However, the P/E might be quite low for a reason and it requires further investigation to determine if it's justified.
China Glass Holdings 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 might be that many expect the strong earnings performance to degrade substantially, possibly more than the market, which has repressed the P/E. If not, then existing shareholders have reason to be quite optimistic about the future direction of the share price.
See our latest analysis for China Glass Holdings
SEHK:3300 Price Based on Past Earnings December 5th 2022 Want the full picture on analyst estimates for the company? Then our free report on China Glass Holdings will help you uncover what's on the horizon.Does Growth Match The Low P/E?
China Glass Holdings' P/E ratio would be typical for a company that's expected to deliver very poor growth or even falling earnings, and importantly, perform much worse than the market.
Retrospectively, the last year delivered an exceptional 31% gain to the company's bottom line. Pleasingly, EPS has also lifted 409% in aggregate from three years ago, thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing earnings over that time.
Shifting to the future, estimates from the only analyst covering the company suggest earnings growth is heading into negative territory, declining 46% over the next year. Meanwhile, the broader market is forecast to expand by 17%, which paints a poor picture.
In light of this, it's understandable that China Glass Holdings' P/E would sit below the majority of other companies. However, shrinking earnings are unlikely to lead to a stable P/E over the longer term. Even just maintaining these prices could be difficult to achieve as the weak outlook is weighing down the shares.
What We Can Learn From China Glass Holdings' P/E?
Even after such a strong price move, China Glass Holdings' P/E still trails the rest of the market significantly. Using the price-to-earnings ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.
We've established that China Glass Holdings maintains its low P/E on the weakness of its forecast for sliding earnings, as expected. At this stage investors feel the potential for an improvement in earnings isn't great enough to justify a higher P/E ratio. Unless these conditions improve, they will continue to form a barrier for the share price around these levels.
It is also worth noting that we have found 2 warning signs for China Glass Holdings that you need to take into consideration.
Of course, you might find a fantastic investment by looking at a few good candidates. So take a peek at this free list of companies with a strong growth track record, trading on a P/E below 20x.
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.
持有者中国玻璃控股有限公司(HKG:3300)股价在过去30天反弹26%,股价会松一口气,但它需要继续努力修复最近对投资者投资组合造成的损害。尽管如此,30天的涨幅并没有改变这样一个事实,即较长期股东的股票在过去12个月里因股价下跌54%而大幅下挫。
尽管股价强劲反弹,但中国玻璃控股2.6倍的市盈率,与香港市场相比,目前看起来仍是一笔强劲的买入。在香港,大约一半的公司的市盈率高于9倍,甚至市盈率高于19倍的情况也很常见。然而,市盈率可能相当低是有原因的,需要进一步调查才能确定它是否合理。
中国玻璃控股最近肯定做得很好,因为它的收益增长是正的,而其他大多数公司的收益都在倒退。许多人可能预计强劲的盈利表现将大幅下降,可能比抑制市盈率的市场更严重。如果不是这样,那么现有股东有理由对股价未来的走势相当乐观。
参见我们对中国玻璃控股的最新分析
联交所:3300价格基于过去的收益2022年12月5日想要了解分析师对该公司的全面预期吗?那么我们的免费关于中国玻璃控股的报道将帮助你发现地平线上的事情。增长是否与低市盈率相匹配?
中国玻璃控股的市盈率对于一家预计将出现非常糟糕的增长甚至盈利下降的公司来说是典型的,更重要的是,它的表现比市场差得多。
回顾过去一年,公司的利润实现了31%的不同寻常的增长。令人欣喜的是,由于过去12个月的增长,每股收益也比三年前上涨了409%。因此,我们可以从确认该公司在这段时间内在增长收益方面做得很好开始。
展望未来,唯一一位跟踪该公司的分析师的估计显示,该公司的收益增长将进入负值区域,明年将下降46%。与此同时,更广泛的市场预计将增长17%,这描绘了一幅糟糕的图景。
有鉴于此,中国玻璃控股的市盈率低于其他大多数公司也是可以理解的。然而,收益缩水不太可能带来长期稳定的市盈率。即使只是维持这些价格也可能很难实现,因为疲软的前景正在拖累股价。
中国玻璃控股的市盈率给我们什么启示?
即使在如此强劲的价格变动之后,中国玻璃控股公司的市盈率仍明显落后于市场其他股票。仅仅用市盈率来决定你是否应该出售你的股票是不明智的,但它可以成为公司未来前景的实用指南。
我们已经确定,中国玻璃控股公司一如预期,由于盈利下滑预期疲软,维持了低市盈率。在这个阶段,投资者认为盈利改善的潜力还不够大,不足以证明提高市盈率是合理的。除非这些条件得到改善,否则它们将继续对股价在这些水平附近形成障碍。
同样值得注意的是,我们发现中国玻璃控股公司的2个警告信号这是你需要考虑的。
当然了,通过观察几个优秀的候选人,你可能会发现这是一项非常棒的投资。所以让我们来看看这个免费业绩表现强劲、市盈率低于20倍的公司名单。
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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