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Shareholders in Hang Lung Group (HKG:10) Are in the Red If They Invested Five Years Ago
Shareholders in Hang Lung Group (HKG:10) Are in the Red If They Invested Five Years Ago
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But every investor is virtually certain to have both over-performing and under-performing stocks. At this point some shareholders may be questioning their investment in Hang Lung Group Limited (HKG:10), since the last five years saw the share price fall 52%. We also note that the stock has performed poorly over the last year, with the share price down 26%.
Now let's have a look at the company's fundamentals, and see if the long term shareholder return has matched the performance of the underlying business.
Check out our latest analysis for Hang Lung Group
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
During the five years over which the share price declined, Hang Lung Group's earnings per share (EPS) dropped by 10% each year. This reduction in EPS is less than the 14% annual reduction in the share price. This implies that the market was previously too optimistic about the stock. The low P/E ratio of 7.35 further reflects this reticence.
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
SEHK:10 Earnings Per Share Growth September 14th 2022It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. This free interactive report on Hang Lung Group's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Hang Lung Group's TSR for the last 5 years was -40%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.
A Different Perspective
Hang Lung Group shareholders are down 22% over twelve months (even including dividends), which isn't far from the market return of -20%. So last year was actually even worse than the last five years, which cost shareholders 7% per year. Weak performance over the long term usually destroys market confidence in a stock, but bargain hunters may want to take a closer look for signs of a turnaround. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with Hang Lung Group (at least 1 which is a bit unpleasant) , and understanding them should be part of your investment process.
Hang Lung Group is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
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.
為了證明挑選個股的努力是合理的,值得努力超越市場指數基金的回報。但幾乎可以肯定的是,每個投資者都會同時擁有表現優異和表現不佳的股票。在這一點上,一些股東可能會質疑他們在恆隆集團有限公司(HKG:10),自過去五年股價下跌52%以來。我們還注意到,該股在過去一年表現不佳,股價下跌了26%。
現在讓我們來看看該公司的基本面,看看長期股東回報是否與基礎業務的表現相匹配。
查看我們對恆隆集團的最新分析
用巴菲特的話説,“船隻將在世界各地航行,但平坦的地球協會將蓬勃發展。市場上的價格和價值之間將繼續存在巨大的差異……”評估圍繞一家公司的情緒變化的一個有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。
在股價下跌的五年中,恆隆集團的每股收益(EPS)每年下降10%。每股收益的這一降幅低於該公司股價每年14%的降幅。這暗示市場此前對該股過於樂觀。7.35的低市盈率進一步反映了這種沉默。
下圖描述了EPS是如何隨着時間的推移而變化的(通過單擊圖像來揭示確切的值)。
聯交所:2022年9月14日每股收益增長10可能值得注意的是,我們在上個季度看到了大量的內幕收購,我們認為這是一個積極的因素。儘管如此,我們認為收益和收入增長趨勢是更重要的考慮因素。這免費如果你想進一步調查恆隆集團的股票,關於恆隆集團收益、收入和現金流的互動報告是一個很好的起點。
那股息呢?
除了衡量股價回報外,投資者還應考慮總股東回報(TSR)。TSR是一種回報計算,計入了現金股息的價值(假設收到的任何股息都進行了再投資),以及任何貼現融資和剝離的計算價值。可以説,TSR更全面地描繪了一隻股票產生的回報。無獨有偶,恆隆集團最近5年的TSR為-40%,超過了前面提到的股價回報。該公司支付的股息因此提振了總計股東回報。
不同的視角
恆隆集團的股東在過去12個月裏下跌了22%(甚至包括股息),距離-20%的市場回報率不遠。因此,去年實際上比過去五年還要糟糕,過去五年股東每年損失7%。長期表現疲軟通常會摧毀市場對一隻股票的信心,但逢低買入者可能希望更仔細地尋找好轉的跡象。雖然值得考慮市場狀況對股價可能產生的不同影響,但還有其他更重要的因素。例如,考慮一下無處不在的投資風險幽靈。我們已經確定了兩個警告信號與恆隆集團合作(至少1個,這有點令人不快),瞭解他們應該是你投資過程的一部分。
恆隆集團並不是業內人士買入的唯一一隻股票。對於那些想要找到贏得投資這免費最近有內幕收購的不斷增長的公司名單可能就是合適的選擇。
請注意,本文引用的市場回報反映了目前在香港交易所交易的股票的市場加權平均回報。
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 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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