Further Weakness as Matthews International (NASDAQ:MATW) Drops 8.4% This Week, Taking Three-year Losses to 32%
Further Weakness as Matthews International (NASDAQ:MATW) Drops 8.4% This Week, Taking Three-year Losses to 32%
Many investors define successful investing as beating the market average over the long term. But in any portfolio, there are likely to be some stocks that fall short of that benchmark. Unfortunately, that's been the case for longer term Matthews International Corporation (NASDAQ:MATW) shareholders, since the share price is down 37% in the last three years, falling well short of the market return of around 16%. And the ride hasn't got any smoother in recent times over the last year, with the price 32% lower in that time. Furthermore, it's down 21% in about a quarter. That's not much fun for holders.
許多投資者將成功的投資定義爲長期超過市場平均水平。但是在任何投資組合中,都可能有一些股票未達到該基準。不幸的是,馬修斯國際公司(納斯達克股票代碼:MATW)的長期股東就是這種情況,因爲股價在過去三年中下跌了37%,遠低於16%左右的市場回報率。而且在過去的一年裏,這種行程並沒有變得更加順利,同期價格下降了32%。此外,它在大約一個季度內下降了21%。對於持有者來說,這沒什麼好玩的。
After losing 8.4% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.
在上週下跌8.4%之後,值得研究該公司的基本面,看看我們可以從過去的表現中推斷出什麼。
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.
引用巴菲特的話說:“船隻將在世界各地航行,但Flat Earth Society將蓬勃發展。市場上的價格和價值之間將繼續存在巨大差異...”評估公司情緒變化的一種有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。
During five years of share price growth, Matthews International moved from a loss to profitability. That would generally be considered a positive, so we are surprised to see the share price is down. So given the share price is down it's worth checking some other metrics too.
在五年的股價增長中,馬修斯國際從虧損轉爲盈利。這通常會被視爲利好,因此我們驚訝地看到股價下跌。因此,鑑於股價下跌,還值得檢查其他一些指標。
We note that, in three years, revenue has actually grown at a 6.6% annual rate, so that doesn't seem to be a reason to sell shares. It's probably worth investigating Matthews International further; while we may be missing something on this analysis, there might also be an opportunity.
我們注意到,在三年內,收入實際上以6.6%的年增長率增長,因此這似乎不是出售股票的理由。可能值得進一步調查馬修斯國際;儘管我們在分析中可能遺漏了一些東西,但也可能有機會。
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
您可以在下圖中看到收入和收入隨時間推移而發生的變化(點擊圖表查看確切值)。
We know that Matthews International has improved its bottom line lately, but what does the future have in store? If you are thinking of buying or selling Matthews International stock, you should check out this free report showing analyst profit forecasts.
我們知道馬修斯國際最近提高了利潤,但是未來會怎樣?如果您正在考慮買入或賣出馬修斯國際股票,則應查看這份顯示分析師利潤預測的免費報告。
What About Dividends?
分紅呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Matthews International the TSR over the last 3 years was -32%, which is better than the share price return mentioned above. The dividends paid by the company have thusly boosted the total shareholder return.
在考慮投資回報時,重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。基於股息再投資的假設,股東總回報率納入了任何分拆或貼現資本籌集的價值以及任何股息。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。我們注意到,對於馬修斯國際而言,過去3年的股東總回報率爲-32%,好於上述股價回報率。因此,該公司支付的股息提高了 總 股東回報。
A Different Perspective
不同的視角
While the broader market gained around 22% in the last year, Matthews International shareholders lost 30% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 4% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope 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. Like risks, for instance. Every company has them, and we've spotted 2 warning signs for Matthews International (of which 1 is a bit concerning!) you should know about.
儘管去年整體市場上漲了約22%,但馬修斯國際的股東損失了30%(甚至包括股息)。即使是優質股票的股價有時也會下跌,但我們希望在過於感興趣之前看到企業基本指標的改善。不幸的是,去年的表現可能預示着尚未解決的挑戰,因爲它比過去五年中4%的年化虧損還要糟糕。總的來說,長期股價疲軟可能是一個壞兆頭,儘管逆勢投資者可能希望研究該股以期出現轉機。儘管市場狀況可能對股價產生的不同影響值得考慮,但還有其他因素更爲重要。比如風險。每家公司都有它們,我們已經發現了馬修斯國際的兩個警告標誌(其中一個有點令人擔憂!)你應該知道。
But note: Matthews International may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但請注意:馬修斯國際可能不是最值得購買的股票。因此,來看看這份過去盈利增長(以及進一步增長預測)的有趣公司的免費清單。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
請注意,本文引用的市場回報反映了目前在美國交易所交易的股票的市場加權平均回報。
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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.
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。