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Guangdong Investment Limited's (HKG:270) Share Price Could Signal Some Risk
Guangdong Investment Limited's (HKG:270) Share Price Could Signal Some Risk
There wouldn't be many who think Guangdong Investment Limited's (HKG:270) price-to-earnings (or "P/E") ratio of 9.3x is worth a mention when the median P/E in Hong Kong is similar at about 9x. Although, it's not wise to simply ignore the P/E without explanation as investors may be disregarding a distinct opportunity or a costly mistake.
With only a limited decrease in earnings compared to most other companies of late, Guangdong Investment has been doing relatively well. It might be that many expect the comparatively superior earnings performance to vanish, which has kept the P/E from rising. You'd much rather the company wasn't bleeding earnings if you still believe in the business. But at the very least, you'd be hoping the company doesn't fall back into the pack if your plan is to pick up some stock while it's not in favour.
Check out our latest analysis for Guangdong Investment
SEHK:270 Price Based on Past Earnings September 6th 2022 Want the full picture on analyst estimates for the company? Then our free report on Guangdong Investment will help you uncover what's on the horizon.Does Growth Match The P/E?
In order to justify its P/E ratio, Guangdong Investment would need to produce growth that's similar to the market.
Retrospectively, the last year delivered virtually the same number to the company's bottom line as the year before. This isn't what shareholders were looking for as it means they've been left with a 3.2% decline in EPS over the last three years in total. Therefore, it's fair to say the earnings growth recently has been undesirable for the company.
Looking ahead now, EPS is anticipated to climb by 8.0% per year during the coming three years according to the eight analysts following the company. Meanwhile, the rest of the market is forecast to expand by 14% each year, which is noticeably more attractive.
In light of this, it's curious that Guangdong Investment's P/E sits in line with the majority of other companies. Apparently many investors in the company are less bearish than analysts indicate and aren't willing to let go of their stock right now. Maintaining these prices will be difficult to achieve as this level of earnings growth is likely to weigh down the shares eventually.
The Final Word
While the price-to-earnings ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of earnings expectations.
We've established that Guangdong Investment currently trades on a higher than expected P/E since its forecast growth is lower than the wider market. When we see a weak earnings outlook with slower than market growth, we suspect the share price is at risk of declining, sending the moderate P/E lower. Unless these conditions improve, it's challenging to accept these prices as being reasonable.
Plus, you should also learn about these 2 warning signs we've spotted with Guangdong Investment (including 1 which is a bit concerning).
If P/E ratios interest you, you may wish to see this free collection of other companies that have grown earnings strongly and trade on P/E's 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.
不會有很多人認為粵海投資股份有限公司(HKG:270)9.3倍的市盈率(或“市盈率”)值得一提的是,香港的市盈率中值約為9倍。儘管如此,在沒有解釋的情況下簡單地忽視市盈率是不明智的,因為投資者可能會忽視一個獨特的機會或代價高昂的錯誤。
與最近大多數其他公司相比,粵海投資的收益只出現了有限的下降,因此表現相對較好。這可能是因為許多人預計相對較好的盈利表現將消失,這阻礙了市盈率的上升。如果你仍然相信公司的業務,你會更希望公司的收益不會流失。但至少,如果你的計劃是在不受歡迎的情況下買入一些股票,你會希望這家公司不會重新陷入困境。
看看我們對粵海投資的最新分析
聯交所:270價格基於過去的收益2022年9月6日想要了解分析師對該公司預期的全貌嗎?那麼我們的免費粵海投資的報道將幫助你發現地平線上正在發生的事情。增長是否與市盈率匹配?
為了證明其市盈率是合理的,粵海投資需要實現與市場相似的增長。
回顧過去一年,該公司的利潤幾乎與前一年持平。這並不是股東們所期待的,因為這意味着他們的每股收益在過去三年裏總共下降了3.2%。因此,公平地説,最近的收益增長對公司來説是不可取的。
根據跟蹤該公司的八位分析師的説法,展望未來三年,每股收益預計將以每年8.0%的速度攀升。與此同時,其他市場預計將以每年14%的速度增長,這顯然更具吸引力。
有鑑於此,奇怪的是,粵海投資的市盈率與大多數其他公司的市盈率是一致的。顯然,該公司的許多投資者並不像分析師所説的那樣悲觀,他們現在不願拋售自己的股票。維持這些價格將很難實現,因為這種水平的收益增長最終可能會拖累股價。
最後的結論
雖然市盈率不應該是你是否買入一隻股票的決定性因素,但它是一個很好的盈利預期晴雨表。
我們已經確定,粵海投資目前的市盈率高於預期,因為其預期增長低於大盤。當我們看到疲弱的盈利前景和低於市場的增長時,我們懷疑股價有下跌的風險,導致温和的市盈率下降。除非這些條件得到改善,否則很難接受這些價格是合理的。
另外,你還應該瞭解這些我們在粵海投資身上發現了兩個警告信號(包括1,這有點令人擔憂)。
如果你對市盈率感興趣,你可能想看看這個免費其他盈利增長強勁、市盈率低於20倍的公司。
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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