Little Excitement Around Asia-express Logistics Holdings Limited's (HKG:8620) Earnings As Shares Take 36% Pounding
Little Excitement Around Asia-express Logistics Holdings Limited's (HKG:8620) Earnings As Shares Take 36% Pounding
Asia-express Logistics Holdings Limited (HKG:8620) shares have had a horrible month, losing 36% after a relatively good period beforehand. The drop over the last 30 days has capped off a tough year for shareholders, with the share price down 21% in that time.
亚洲快递物流控股有限公司(HKG:8620)股价经历了可怕的一个月,在经历了一段相对较好的时期后,下跌了36%。过去30天的下跌为股东们艰难的一年画上了句号,股价在此期间下跌了21%。
In spite of the heavy fall in price, Asia-express Logistics Holdings may still be sending very bullish signals at the moment with its price-to-earnings (or "P/E") ratio of -3.9x, since almost half of all companies in Hong Kong have P/E ratios greater than 10x and even P/E's higher than 21x are not unusual. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so limited.
尽管股价大幅下跌,但亚洲快递物流控股有限公司目前可能仍在发出非常看涨的信号,其市盈率(P/E)为-3.9倍,因为香港近半数公司的市盈率高于10倍,即使市盈率高于21倍也并不罕见。尽管如此,仅仅从面值来看待市盈率是不明智的,因为可能会有一个解释,为什么它如此有限。
For example, consider that Asia-express Logistics Holdings' financial performance has been poor lately as its earnings have been in decline. It might be that many expect the disappointing earnings performance to continue or accelerate, which has repressed the P/E. However, if this doesn't eventuate then existing shareholders may be feeling optimistic about the future direction of the share price.
例如,考虑到亚洲快递物流控股公司最近的财务表现一直不佳,因为它的收益一直在下降。许多人可能预计令人失望的盈利表现将继续或加速,这抑制了市盈率。然而,如果这不是最终的结果,那么现有股东可能对未来股价的走势感到乐观。
View our latest analysis for Asia-express Logistics Holdings
查看我们对亚洲的最新分析-快递物流控股
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Does Growth Match The Low P/E?
增长是否与低市盈率相匹配?
There's an inherent assumption that a company should far underperform the market for P/E ratios like Asia-express Logistics Holdings' to be considered reasonable.
有一种固有的假设,即一家公司的市盈率应该远远逊于市场,这样的市盈率才是合理的。
Retrospectively, the last year delivered a frustrating 10% decrease to the company's bottom line. Unfortunately, that's brought it right back to where it started three years ago with EPS growth being virtually non-existent overall during that time. So it appears to us that the company has had a mixed result in terms of growing earnings over that time.
回顾过去一年,该公司的利润令人沮丧地下降了10%。不幸的是,这让它回到了三年前的起点,在那段时间里,每股收益几乎没有增长。因此,在我们看来,在这段时间里,该公司在收益增长方面的结果好坏参半。
This is in contrast to the rest of the market, which is expected to grow by 25% over the next year, materially higher than the company's recent medium-term annualised growth rates.
这与其他市场形成对比,后者预计明年将增长25%,大大高于该公司最近的中期年化增长率。
With this information, we can see why Asia-express Logistics Holdings is trading at a P/E lower than the market. Apparently many shareholders weren't comfortable holding on to something they believe will continue to trail the bourse.
有了这些信息,我们就可以理解为什么亚洲快递物流控股公司的市盈率低于市场。显然,许多股东对持有一只他们认为将继续追随该交易所走势的股票感到不安。
What We Can Learn From Asia-express Logistics Holdings' P/E?
我们可以从亚洲快递物流控股公司的市盈率中学到什么?
Shares in Asia-express Logistics Holdings have plummeted and its P/E is now low enough to touch the ground. Typically, we'd caution against reading too much into price-to-earnings ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
亚洲快递物流控股公司的股价暴跌,其市盈率现在已经低到可以触地的程度。通常,在做出投资决策时,我们会告诫不要过度解读市盈率,尽管它可以充分揭示其他市场参与者对该公司的看法。
As we suspected, our examination of Asia-express Logistics Holdings revealed its three-year earnings trends are contributing to its low P/E, given they look worse than current market expectations. At this stage investors feel the potential for an improvement in earnings isn't great enough to justify a higher P/E ratio. If recent medium-term earnings trends continue, it's hard to see the share price rising strongly in the near future under these circumstances.
正如我们怀疑的那样,我们对亚洲快递物流控股公司的调查显示,鉴于其市盈率低于当前市场预期,该公司三年来的盈利趋势是导致其市盈率较低的原因之一。在这个阶段,投资者认为盈利改善的潜力还不够大,不足以证明提高市盈率是合理的。如果近期的中期盈利趋势继续下去,在这种情况下,很难看到股价在不久的将来强劲上涨。
Having said that, be aware Asia-express Logistics Holdings is showing 4 warning signs in our investment analysis, and 2 of those are significant.
话虽如此,但请注意亚洲快递物流控股公司出现4个警告信号在我们的投资分析中,其中两个是重要的。
It's important to make sure you look for a great company, not just the first idea you come across. So take a peek at this free list of interesting companies with strong recent earnings growth (and a low P/E).
重要的是确保你寻找的是一家伟大的公司,而不仅仅是你遇到的第一个想法。所以让我们来看看这个免费近期收益增长强劲(市盈率较低)的有趣公司名单。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。