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The Three-year Shareholder Returns and Company Earnings Persist Lower as Zhejiang Medicine (SHSE:600216) Stock Falls a Further 4.0% in Past Week

The Three-year Shareholder Returns and Company Earnings Persist Lower as Zhejiang Medicine (SHSE:600216) Stock Falls a Further 4.0% in Past Week

由于浙江医药(SHSE: 600216)股价在过去一周进一步下跌4.0%,三年期股东回报率和公司收益持续走低
Simply Wall St ·  03/07 18:18

For many investors, the main point of stock picking is to generate higher returns than the overall market. But if you try your hand at stock picking, your risk returning less than the market. We regret to report that long term Zhejiang Medicine Co., Ltd. (SHSE:600216) shareholders have had that experience, with the share price dropping 41% in three years, versus a market decline of about 14%. And more recent buyers are having a tough time too, with a drop of 25% in the last year. The falls have accelerated recently, with the share price down 14% in the last three months.

对于许多投资者来说,选股的要点是产生比整个市场更高的回报。但是,如果你尝试选股,你的风险回报低于市场。我们遗憾地报告,浙江医药股份有限公司(SHSE: 600216)的长期股东有这样的经历,股价在三年内下跌了41%,而市场下跌了约14%。最近的买家也遇到了艰难时期,去年下降了25%。最近跌势加速,股价在过去三个月中下跌了14%。

If the past week is anything to go by, investor sentiment for Zhejiang Medicine isn't positive, so let's see if there's a mismatch between fundamentals and the share price.

如果说过去一周有意义的话,投资者对浙药的情绪并不乐观,所以让我们看看基本面和股价之间是否存在不匹配的情况。

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.

虽然市场是一种强大的定价机制,但股价反映了投资者的情绪,而不仅仅是潜在的业务表现。评估公司情绪变化的一种有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。

During the three years that the share price fell, Zhejiang Medicine's earnings per share (EPS) dropped by 16% each year. So do you think it's a coincidence that the share price has dropped 16% per year, a very similar rate to the EPS? We don't. That suggests that the market sentiment around the company hasn't changed much over that time, despite the disappointment. It seems like the share price is reflecting the declining earnings per share.

在股价下跌的三年中,浙药的每股收益(EPS)每年下降16%。那么,你认为股价每年下跌16%,与每股收益非常相似是巧合吗?我们没有。这表明,尽管令人失望,但在这段时间内,公司周围的市场情绪并没有太大变化。股价似乎反映了每股收益的下降。

The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).

下图显示了 EPS 在一段时间内的跟踪情况(如果你点击图片,你可以看到更多细节)。

earnings-per-share-growth
SHSE:600216 Earnings Per Share Growth March 7th 2024
SHSE: 600216 每股收益增长 2024 年 3 月 7 日

It might be well worthwhile taking a look at our free report on Zhejiang Medicine's earnings, revenue and cash flow.

也许值得一看我们关于浙医的收益、收入和现金流的免费报告。

What About Dividends?

分红呢?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Zhejiang Medicine the TSR over the last 3 years was -37%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!

重要的是要考虑任何给定股票的股东总回报率和股价回报率。股东总回报率是一种回报计算方法,它考虑了现金分红的价值(假设收到的任何股息都经过再投资)以及任何贴现资本筹集和分拆的计算价值。可以公平地说,股东总回报率为支付股息的股票提供了更完整的画面。我们注意到,浙江医药在过去3年的股东总回报率为-37%,好于上述股价回报率。而且,猜测股息支付在很大程度上解释了这种分歧是没有好处的!

A Different Perspective

不同的视角

While the broader market lost about 15% in the twelve months, Zhejiang Medicine shareholders did even worse, losing 24% (even including dividends). However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 0.5% per year over five years. 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. It's always interesting to track share price performance over the longer term. But to understand Zhejiang Medicine better, we need to consider many other factors. For example, we've discovered 3 warning signs for Zhejiang Medicine that you should be aware of before investing here.

尽管整个市场在十二个月中下跌了约15%,但浙药股东的表现甚至更糟,损失了24%(甚至包括股息)。但是,可能只是股价受到了更广泛的市场紧张情绪的影响。如果有很好的机会,可能值得关注基本面。遗憾的是,去年的业绩结束了糟糕的表现,股东在五年内每年面临0.5%的总亏损。总的来说,长期股价疲软可能是一个坏兆头,尽管逆势投资者可能希望研究该股以期出现转机。长期跟踪股价表现总是很有意思的。但是,要更好地了解浙医,我们需要考虑许多其他因素。例如,我们发现了浙医的3个警告信号,在投资这里之前,你应该注意这些信号。

For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

对于那些喜欢寻找中奖投资的人来说,这份最近有内幕收购的成长型公司的免费名单可能只是门票。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.

请注意,本文引用的市场回报反映了目前在中国交易所交易的股票的市场加权平均回报。

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.

对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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