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Earnings Not Telling The Story For HK Asia Holdings Limited (HKG:1723) After Shares Rise 31%
Earnings Not Telling The Story For HK Asia Holdings Limited (HKG:1723) After Shares Rise 31%
Despite an already strong run, HK Asia Holdings Limited (HKG:1723) shares have been powering on, with a gain of 31% in the last thirty days. Looking back a bit further, it's encouraging to see the stock is up 43% in the last year.
After such a large jump in price, HK Asia Holdings' price-to-earnings (or "P/E") ratio of 12x might make it look like a sell right now compared to the market in Hong Kong, where around half of the companies have P/E ratios below 8x and even P/E's below 4x are quite common. However, the P/E might be high for a reason and it requires further investigation to determine if it's justified.
For instance, HK Asia Holdings' receding earnings in recent times would have to be some food for thought. It might be that many expect the company to still outplay most other companies over the coming period, which has kept the P/E from collapsing. If not, then existing shareholders may be quite nervous about the viability of the share price.
View our latest analysis for HK Asia Holdings
Want the full picture on earnings, revenue and cash flow for the company? Then our free report on HK Asia Holdings will help you shine a light on its historical performance.What Are Growth Metrics Telling Us About The High P/E?
HK Asia Holdings' P/E ratio would be typical for a company that's expected to deliver solid growth, and importantly, perform better than the market.
Retrospectively, the last year delivered a frustrating 44% decrease to the company's bottom line. This means it has also seen a slide in earnings over the longer-term as EPS is down 64% in total over the last three years. Therefore, it's fair to say the earnings growth recently has been undesirable for the company.
Comparing that to the market, which is predicted to deliver 22% growth in the next 12 months, the company's downward momentum based on recent medium-term earnings results is a sobering picture.
In light of this, it's alarming that HK Asia 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. Only the boldest would assume these prices are sustainable as a continuation of recent earnings trends is likely to weigh heavily on the share price eventually.
What We Can Learn From HK Asia Holdings' P/E?
The large bounce in HK Asia Holdings' shares has lifted the company's P/E to a fairly high level. 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 HK Asia Holdings currently trades on a much higher than expected P/E since its recent earnings have been in decline over the medium-term. When we see earnings heading backwards and underperforming the market forecasts, we suspect the share price is at risk of declining, sending the high P/E lower. Unless the recent medium-term conditions improve markedly, it's very challenging to accept these prices as being reasonable.
You should always think about risks. Case in point, we've spotted 3 warning signs for HK Asia Holdings you should be aware of, and 1 of them doesn't sit too well with us.
If you're unsure about the strength of HK Asia Holdings' business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.
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.
尽管已经表现强劲,但香港亚洲控股有限公司(HKG: 1723)的股价一直在上涨,在过去三十天中上涨了31%。再往前看,该股去年上涨了43%,令人鼓舞。
在价格大幅上涨之后,与香港市场相比,HK Asia Holdings的12倍市盈率(或 “市盈率”)可能使其目前看起来像卖出。在香港,约有一半公司的市盈率低于8倍,甚至市盈率低于4倍也很常见。但是,市盈率之高可能是有原因的,需要进一步调查以确定其是否合理。
例如,港亚控股近期收益的下降值得深思。许多人可能预计,在未来一段时间内,该公司的表现仍将超过大多数其他公司,这阻止了市盈率的暴跌。如果不是,那么现有股东可能会对股价的可行性感到非常担忧。
查看我们对港亚控股的最新分析
想全面了解公司的收益、收入和现金流吗?那么我们关于港亚控股的免费报告将帮助您了解其历史表现。关于高市盈率,增长指标告诉我们什么?
HK Asia Holdings的市盈率对于一家有望实现稳健增长且重要的是表现好于市场的公司来说是典型的。
回顾过去,去年该公司的利润下降了44%,令人沮丧。这意味着从长远来看,其收益也有所下滑,因为在过去三年中,每股收益总共下降了64%。因此,可以公平地说,最近的收益增长对公司来说是不可取的。
相比之下,市场预计将在未来12个月内实现22%的增长,根据最近的中期收益业绩,该公司的下跌势头令人震惊。
有鉴于此,令人震惊的是,港亚控股的市盈率高于其他大多数公司。显然,该公司的许多投资者比最近所表示的要看涨得多,他们不愿意以任何价格抛售股票。只有最大胆的人才会假设这些价格是可持续的,因为近期盈利趋势的延续最终可能会严重压制股价。
我们可以从港亚控股的市盈率中学到什么?
港亚控股股价的大幅反弹使该公司的市盈率升至相当高的水平。仅使用市盈率来确定是否应该出售股票是不明智的,但它可以作为公司未来前景的实用指南。
我们已经确定,港亚控股目前的市盈率远高于预期,因为其最近的收益在中期内有所下降。当我们看到收益倒退且表现低于市场预期时,我们怀疑股价有下跌的风险,导致高市盈率走低。除非最近的中期状况明显改善,否则很难接受这些价格的合理性。
你应该时刻考虑风险。举个例子,我们发现了你应该注意的港亚控股的3个警告信号,其中一个对我们来说不太合适。
如果您不确定港亚控股业务的实力,为什么不浏览我们的互动股票清单,这些股票的业务基本面稳健,您可能错过了其他一些公司。
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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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。
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