No-one enjoys it when they lose money on a stock. But no-one can make money on every call, especially in a declining market. While the HKT Trust and HKT Limited (HKG:6823) share price is down 16% in the last three years, the total return to shareholders (which includes dividends) was 1.9%. And that total return actually beats the market decline of 4.1%.
It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that.
Check out our latest analysis for HKT Trust and HKT
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. 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.
HKT Trust and HKT saw its EPS decline at a compound rate of 2.0% per year, over the last three years. The share price decline of 6% is actually steeper than the EPS slippage. So it's likely that the EPS decline has disappointed the market, leaving investors hesitant to buy.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
SEHK:6823 Earnings Per Share Growth December 8th 2022
Dive deeper into HKT Trust and HKT's key metrics by checking this interactive graph of HKT Trust and HKT's earnings, revenue and cash flow.
What About Dividends?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for HKT Trust and HKT the TSR over the last 3 years was 1.9%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
A Different Perspective
While it's never nice to take a loss, HKT Trust and HKT shareholders can take comfort that , including dividends,their trailing twelve month loss of 4.4% wasn't as bad as the market loss of around 18%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 6% for each year. In the best case scenario the last year is just a temporary blip on the journey to a brighter future. It's always interesting to track share price performance over the longer term. But to understand HKT Trust and HKT better, we need to consider many other factors. To that end, you should learn about the 2 warning signs we've spotted with HKT Trust and HKT (including 1 which is potentially serious) .
But note: HKT Trust and HKT may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
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.
当他们在一只股票上赔钱时,没有人喜欢它。但没有人能在每一通电话上都赚钱,特别是在市场下跌的情况下。而当香港电讯-SS有限公司(HKG:6823)过去三年股价下跌16%,股东总回报(包括股息)为1.9%。这一总回报率实际上超过了4.1%的市场跌幅。
值得评估的是,该公司的经济状况是否一直与这些平淡无奇的股东回报同步,或者两者之间是否存在一些差距。所以我们就这么做吧。
看看我们对香港电讯-SS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。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。
过去三年,香港电讯-SS的每股收益以每年2.0%的复合速度下降。6%的股价跌幅实际上比每股收益下滑幅度更大。因此,很可能是每股收益的下降令市场失望,让投资者对买入犹豫不决。
下图描述了EPS是如何随着时间的推移而变化的(通过单击图像来揭示确切的值)。
联交所:6823每股盈利增长2022年12月8日
通过查看这张香港电讯-SS的收益、收入和现金流的互动图表,更深入地研究香港电讯-SS的关键指标。
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。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。公平地说,TSR为支付股息的股票提供了更完整的图景。我们注意到,香港电讯-SS过去3年的总回报率为1.9%,好于上面提到的股价回报率。这在很大程度上是其股息支付的结果!
不同的视角
虽然亏损从来都不是好事,但香港电讯-SS的股东们可以感到欣慰的是,包括股息在内,他们过去12个月的4.4%的亏损没有市场上18%左右的亏损那么糟糕。当然,长期回报要重要得多,好消息是,在过去的五年里,该股的年回报率为6%。在最好的情况下,去年只是通向更光明未来的旅途中的一个暂时的转折点。跟踪股价的长期表现总是很有趣的。但要更好地理解香港电讯-SS,我们还需要考虑许多其他因素。为此,您应该了解2个警告标志我们已经发现了香港电讯-SS(包括1名潜在的严重威胁)。
但请注意:香港电讯-SS可能不是最值得买入的股票。所以让我们来看看这个免费过去有盈利增长(以及进一步增长预测)的有趣公司名单。
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。