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China Literature Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
China Literature Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
China Literature Limited (HKG:772) last week reported its latest half-yearly results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. Statutory earnings per share fell badly short of expectations, coming in at CN¥0.22, some 63% below analyst forecasts, although revenues were okay, approximately in line with analyst estimates at CN¥4.1b. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.
See our latest analysis for China Literature
SEHK:772 Earnings and Revenue Growth August 17th 2022Taking into account the latest results, China Literature's 18 analysts currently expect revenues in 2022 to be CN¥8.28b, approximately in line with the last 12 months. Statutory earnings per share are expected to reduce 9.5% to CN¥0.88 in the same period. Before this earnings report, the analysts had been forecasting revenues of CN¥9.27b and earnings per share (EPS) of CN¥1.25 in 2022. It looks like sentiment has declined substantially in the aftermath of these results, with a substantial drop in revenue estimates and a large cut to earnings per share numbers as well.
Despite the cuts to forecast earnings, there was no real change to the HK$44.10 price target, showing that the analysts don't think the changes have a meaningful impact on its intrinsic value. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values China Literature at HK$87.40 per share, while the most bearish prices it at HK$29.95. We would probably assign less value to the analyst forecasts in this situation, because such a wide range of estimates could imply that the future of this business is difficult to value accurately. With this in mind, we wouldn't rely too heavily the consensus price target, as it is just an average and analysts clearly have some deeply divergent views on the business.
Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that sales are expected to slow, with a forecast annualised revenue decline of 3.2% by the end of 2022. This indicates a significant reduction from annual growth of 19% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 18% per year. It's pretty clear that China Literature's revenues are expected to perform substantially worse than the wider industry.
The Bottom Line
The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Unfortunately, they also downgraded their revenue estimates, and our data indicates revenues are expected to perform worse than the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple China Literature analysts - going out to 2024, and you can see them free on our platform here.
We also provide an overview of the China Literature Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here.
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.
閲文集團有限公司(HKG:772)上週公佈了最新的半年業績,這使現在是投資者潛入的好時機,看看業務表現是否符合預期。法定每股收益遠低於預期,為人民幣0.22元,較分析師預期低約63%,不過營收尚可,與分析師預期的人民幣41億加元大致一致。分析師通常會在每一份收益報告中更新他們的預測,我們可以從他們的估計中判斷他們對公司的看法是否發生了變化,或者是否有任何新的擔憂需要注意。因此,我們收集了最新的盈利後預測,看看估計數字對明年的影響。
參見我們對閲文集團的最新分析
聯交所:772盈利及收入增長2022年8月17日考慮到最新的業績,閲文集團的18位分析師目前預計2022年的收入為82.8億元人民幣,與過去12個月大致持平。預計同期法定每股收益減少9.5%,至0.88加元。在這份收益報告之前,分析師們一直預測2022年收入為92.7億加元,每股收益為1.25加元。在這些業績公佈後,市場人氣似乎大幅下降,營收預期大幅下降,每股收益數字也大幅下調。
儘管下調了預期收益,但44.10港元的目標價並未發生實質性變化,這表明分析師認為這些變化不會對其內在價值產生重大影響。不過,還有另一種方式來考慮價格目標,那就是看看分析師提出的價格目標的範圍,因為廣泛的估計可能表明,對企業可能出現的結果有不同的看法。目前,最樂觀的分析師對閲文集團的估值為每股87.4港元,而最悲觀的分析師對其估值為29.95港元。在這種情況下,我們可能會對分析師的預測給予較低的價值,因為如此廣泛的估計範圍可能意味着,這項業務的未來很難準確估值。考慮到這一點,我們不會過於依賴共識目標價,因為這只是一個平均值,分析師顯然對該業務有一些嚴重的分歧。
當然,看待這些預測的另一種方式是將它們放在與行業本身相反的背景下。這些預估意味着銷售預計將放緩,預計到2022年底,年化收入將下降3.2%。這表明,與過去五年19%的年增長率相比,這一數字大幅下降。與我們的數據相比,我們的數據表明,同一行業的其他公司預計收入將以每年18%的速度增長。很明顯,閲文集團的營收預計將遠遠遜於整個行業。
底線
最重要的是,分析師們下調了他們的每股收益預期,表明業績公佈後,市場人氣明顯下降。不幸的是,他們也下調了收入預期,我們的數據表明,收入預計會比整個行業表現得更差。即便如此,每股收益對企業的內在價值更為重要。共識目標價沒有實際變化,這表明根據最新估計,該業務的內在價值沒有發生任何重大變化。
考慮到這一點,我們仍然認為,投資者需要考慮的更長期的業務軌跡要重要得多。我們有多位閲文集團分析師對2024年的預測,你可以在我們的平臺上免費看到。
我們還提供了閲文集團董事會和首席執行官的薪酬和在公司的任期,以及內部人士是否一直在買入股票的概述。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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