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Fosun Tourism Group's (HKG:1992) 26% Dip In Price Shows Sentiment Is Matching Revenues
Fosun Tourism Group's (HKG:1992) 26% Dip In Price Shows Sentiment Is Matching Revenues
To the annoyance of some shareholders, Fosun Tourism Group (HKG:1992) shares are down a considerable 26% in the last month, which continues a horrid run for the company. For any long-term shareholders, the last month ends a year to forget by locking in a 64% share price decline.
Although its price has dipped substantially, Fosun Tourism Group's price-to-sales (or "P/S") ratio of 0.2x might still make it look like a buy right now compared to the Hospitality industry in Hong Kong, where around half of the companies have P/S ratios above 0.8x and even P/S above 3x are quite common. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the reduced P/S.
How Fosun Tourism Group Has Been Performing
With revenue growth that's inferior to most other companies of late, Fosun Tourism Group has been relatively sluggish. Perhaps the market is expecting the current trend of poor revenue growth to continue, which has kept the P/S suppressed. If you still like the company, you'd be hoping revenue doesn't get any worse and that you could pick up some stock while it's out of favour.
Want the full picture on analyst estimates for the company? Then our free report on Fosun Tourism Group will help you uncover what's on the horizon.Do Revenue Forecasts Match The Low P/S Ratio?
There's an inherent assumption that a company should underperform the industry for P/S ratios like Fosun Tourism Group's to be considered reasonable.
Taking a look back first, we see that the company grew revenue by an impressive 24% last year. The strong recent performance means it was also able to grow revenue by 143% in total over the last three years. Accordingly, shareholders would have definitely welcomed those medium-term rates of revenue growth.
Turning to the outlook, the next three years should generate growth of 9.4% each year as estimated by the eight analysts watching the company. With the industry predicted to deliver 18% growth per year, the company is positioned for a weaker revenue result.
In light of this, it's understandable that Fosun Tourism Group's P/S sits below the majority of other companies. It seems most investors are expecting to see limited future growth and are only willing to pay a reduced amount for the stock.
What Does Fosun Tourism Group's P/S Mean For Investors?
The southerly movements of Fosun Tourism Group's shares means its P/S is now sitting at a pretty low level. It's argued the price-to-sales ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
We've established that Fosun Tourism Group maintains its low P/S on the weakness of its forecast growth being lower than the wider industry, as expected. Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises. Unless these conditions improve, they will continue to form a barrier for the share price around these levels.
It's always necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Fosun Tourism Group, and understanding should be part of your investment process.
If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).
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.
令一些股東感到煩惱的是,復星旅遊集團(HKG: 1992)的股價在上個月下跌了26%,這延續了該公司的糟糕表現。對於任何長期股東來說,最後一個月的股價跌幅爲64%,從而結束了令人難忘的一年。
儘管其價格已大幅下跌,但復星旅遊集團0.2倍的市銷率(或 “市盈率”)與香港的酒店業相比,目前仍可能看起來像買入。在香港,大約一半的公司的市銷率高於0.8倍,甚至市盈率高於3倍也很常見。但是,我們需要更深入地挖掘以確定降低市銷率是否有合理的依據。
復星旅遊集團的表現如何
由於最近的收入增長不及大多數其他公司,復星旅遊集團一直相對疲軟。也許市場預計當前收入增長不佳的趨勢將繼續下去,這使市銷售率一直受到抑制。如果你仍然喜歡這家公司,你希望收入不會惡化,也希望在股票失寵的時候買入一些股票。
想全面了解分析師對公司的估計嗎?那麼我們關於復星旅遊集團的免費報告將幫助您發現即將發生的事情。收入預測與低市銷率相匹配嗎?
人們固有的假設是,如果像復星旅遊集團這樣的市銷率被認爲是合理的,公司的表現應該低於該行業。
首先回顧一下,我們發現該公司去年的收入增長了令人印象深刻的24%。最近的強勁表現意味着它在過去三年中總收入增長了143%。因此,股東們肯定會對這些中期收入增長率表示歡迎。
展望來看,根據關注該公司的八位分析師的估計,未來三年每年將實現9.4%的增長。預計該行業每年將實現18%的增長,因此該公司的收入業績將疲軟。
有鑑於此,復星旅遊集團的市銷率低於其他多數公司是可以理解的。看來大多數投資者預計未來增長有限,只願意爲股票支付較少的金額。
復星旅遊集團的市銷率對投資者意味着什麼?
復星旅遊集團股價向南走勢意味着其市銷率目前處於相當低的水平。有人認爲,在某些行業中,市銷率是衡量價值的較差指標,但它可以是一個有力的商業信心指標。
我們已經確定,復星旅遊集團維持較低的市銷率,原因是其預期的增長低於整個行業。目前,股東們正在接受低市銷率,因爲他們承認未來的收入可能不會帶來任何驚喜。除非這些條件有所改善,否則它們將繼續構成股價在這些水平附近的障礙。
始終有必要考慮永遠存在的投資風險幽靈。我們已經向復星旅遊集團確定了1個警告信號,理解應該是您投資過程的一部分。
如果你喜歡實力雄厚的公司盈利,那麼你會想看看這份以低市盈率(但已證明可以增加收益)的有趣公司的免費名單。
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
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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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