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Smart City Development Holdings Limited (HKG:8268) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected
Smart City Development Holdings Limited (HKG:8268) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected
The Smart City Development Holdings Limited (HKG:8268) share price has done very well over the last month, posting an excellent gain of 29%. The last 30 days bring the annual gain to a very sharp 100%.
Following the firm bounce in price, Smart City Development Holdings' price-to-earnings (or "P/E") ratio of 22.9x might make it look like a strong sell right now compared to the market in Hong Kong, where around half of the companies have P/E ratios below 9x and even P/E's below 4x are quite common. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.
As an illustration, earnings have deteriorated at Smart City Development Holdings over the last year, which is not ideal at all. 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.
Check out our latest analysis for Smart City Development Holdings
SEHK:8268 Price Based on Past Earnings September 8th 2022 Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Smart City Development Holdings will help you shine a light on its historical performance.How Is Smart City Development Holdings' Growth Trending?
There's an inherent assumption that a company should far outperform the market for P/E ratios like Smart City Development Holdings' to be considered reasonable.
Retrospectively, the last year delivered a frustrating 26% decrease to the company's bottom line. At least EPS has managed not to go completely backwards from three years ago in aggregate, thanks to the earlier period of growth. Accordingly, shareholders probably wouldn't have been overly satisfied with the unstable medium-term growth rates.
Weighing that recent medium-term earnings trajectory against the broader market's one-year forecast for expansion of 22% shows it's noticeably less attractive on an annualised basis.
In light of this, it's alarming that Smart City Development 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 Smart City Development Holdings' P/E?
The strong share price surge has got Smart City Development Holdings' P/E rushing to great heights as well. It's argued the price-to-earnings ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
Our examination of Smart City Development Holdings revealed its three-year earnings trends aren't impacting its high P/E anywhere near as much as we would have predicted, given they look worse than current market expectations. Right now we are increasingly uncomfortable with the high P/E as this earnings performance isn't likely to support such positive sentiment for long. If recent medium-term earnings trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.
It is also worth noting that we have found 4 warning signs for Smart City Development Holdings (1 makes us a bit uncomfortable!) that you need to take into consideration.
Of course, you might also be able to find a better stock than Smart City Development Holdings. So you may wish to see this free collection of other companies that sit on P/E's below 20x and have grown earnings strongly.
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.
這個智慧城市發展控股有限公司(HKG:8268)股價在過去一個月表現非常出色,錄得29%的出色漲幅。在過去的30天裏,年度漲幅達到了非常大的100%。
隨着股價的強勁反彈,智慧城市發展控股公司22.9倍的市盈率可能會讓它看起來像是一個強勁的賣盤,而在香港市場,大約一半的公司的市盈率低於9倍,甚至市盈率低於4倍的情況也很常見。然而,僅僅從表面上看待市盈率是不明智的,因為可能會有一個解釋,為什麼它如此之高。
舉例來説,智能城市發展控股公司的收益在過去一年裏一直在惡化,這根本不是理想的情況。許多人可能預計,該公司在未來一段時間內的表現仍將好於大多數其他公司,這使得市盈率沒有崩潰。如果不是,那麼現有股東可能會對股價的生存能力感到相當緊張。
查看我們對智慧城市發展控股公司的最新分析
聯交所:8268基於過去收益的價格2022年9月8日想要了解公司的收益、收入和現金流的全貌嗎?那麼我們的免費智慧城市發展控股的報告將幫助您瞭解其歷史業績。智慧城市發展控股公司的增長趨勢如何?
有一種固有的假設,即一家公司的市盈率應該遠遠超過市場,才能被認為是合理的。
回顧過去一年,該公司的利潤令人沮喪地下降了26%。至少,由於早期的增長,每股收益總體上沒有從三年前完全倒退。因此,股東們可能不會對不穩定的中期增長率過於滿意。
將最近的中期收益軌跡與大盤一年增長22%的預測進行比較,結果顯示,按年率計算,它的吸引力明顯下降。
有鑑於此,智慧城市發展控股公司的市盈率高於其他大多數公司,這令人擔憂。顯然,該公司的許多投資者比最近的情況所顯示的要樂觀得多,不願以任何價格拋售他們的股票。只有最大膽的人才會認為這些價格是可持續的,因為最近盈利趨勢的延續最終可能會對股價造成沉重壓力。
智慧城市發展控股的市盈率有什麼可借鑑之處?
強勁的股價飆升也推動智慧城市發展控股公司的市盈率飆升。有人認為,市盈率是衡量某些行業價值的次要指標,但它可以成為一個強大的商業信心指標。
我們對智慧城市發展控股公司的調查顯示,其三年盈利趨勢對其高市盈率的影響並不像我們預期的那麼大,因為它們看起來比目前的市場預期更糟糕。目前,我們對高市盈率越來越感到不安,因為這種盈利表現不太可能長期支撐這種積極情緒。如果近期的中期盈利趨勢持續下去,將使股東的投資面臨重大風險,潛在投資者面臨支付過高溢價的危險。
同樣值得注意的是,我們發現智慧城市發展控股有限公司的4個警告標誌(1讓我們有點不舒服!)這是你需要考慮的。
當然了,你還可以找到一隻比智慧城市發展控股公司更好的股票。所以你可能想看看這個免費市盈率低於20倍、盈利增長強勁的其他公司的集合。
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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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。
風險及免責聲明
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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