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Pulling Back 5.4% This Week, Jinzhou Port's SHSE:600190) Five-year Decline in Earnings May Be Coming Into Investors Focus

Pulling Back 5.4% This Week, Jinzhou Port's SHSE:600190) Five-year Decline in Earnings May Be Coming Into Investors Focus

本周回落5.4%,锦州港上交所股票代码:600190)五年收益下降可能成为投资者关注的焦点
Simply Wall St ·  2023/10/15 20:41

If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the Jinzhou Port Co., Ltd. (SHSE:600190) share price is up 25% in the last five years, that's less than the market return. Over the last twelve months the stock price has risen a very respectable 10.0%.

如果你购买并持有一只股票多年,你就有希望盈利。此外,你通常希望看到股价上涨的速度快于市场。对股东来说不幸的是,虽然锦州港务股份有限公司(上海证券交易所:600190)股价在过去五年里上涨了25%,低于市场回报率。在过去的12个月里,该公司股价上涨了10.0%,涨幅非常可观。

While the stock has fallen 5.4% this week, it's worth focusing on the longer term and seeing if the stocks historical returns have been driven by the underlying fundamentals.

尽管该股本周下跌了5.4%,但值得关注的是更长期的,看看这些股票的历史回报是否受到了基本面因素的推动。

See our latest analysis for Jinzhou Port

查看我们对锦州港的最新分析

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...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

用巴菲特的话说,“船只将在世界各地航行,但平坦的地球协会将蓬勃发展。市场上的价格和价值之间将继续存在巨大的差异……”通过比较每股收益(EPS)和股价随时间的变化,我们可以感受到投资者对一家公司的态度随着时间的推移发生了怎样的变化。

Jinzhou Port's earnings per share are down 8.5% per year, despite strong share price performance over five years.

锦州港的每股收益每年下降8.5%,尽管过去五年股价表现强劲。

Since the EPS are down strongly, it seems highly unlikely market participants are looking at EPS to value the company. Given that EPS is down, but the share price is up, it seems clear the market is focussed on other aspects of the business, at the moment.

由于每股收益大幅下跌,市场参与者似乎不太可能通过每股收益来对该公司进行估值。鉴于每股收益下降,但股价上涨,很明显,目前市场关注的是该业务的其他方面。

It is not great to see that revenue has dropped by 20% per year over five years. So it seems one might have to take closer look at earnings and revenue trends to see how they might influence the share price.

看到收入在五年内以每年20%的速度下降,这并不是很好。因此,人们似乎必须更仔细地观察收益和收入趋势,看看它们可能会如何影响股价。

You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).

你可以在下面看到收入和收入是如何随着时间的推移而变化的(点击图片可以发现确切的价值)。

earnings-and-revenue-growth
SHSE:600190 Earnings and Revenue Growth October 16th 2023
上海证交所:600190收益和收入增长2023年10月16日

If you are thinking of buying or selling Jinzhou Port stock, you should check out this FREE detailed report on its balance sheet.

如果你正在考虑买卖锦州港的股票,你应该看看这个免费关于其资产负债表的详细报告。

What About The Total Shareholder Return (TSR)?

那么总股东回报(TSR)呢?

Investors should note that there's a difference between Jinzhou Port's total shareholder return (TSR) and its share price change, which we've covered above. The TSR attempts to capture the value of dividends (as if they were reinvested) as well as any spin-offs or discounted capital raisings offered to shareholders. Dividends have been really beneficial for Jinzhou Port shareholders, and that cash payout contributed to why its TSR of 29%, over the last 5 years, is better than the share price return.

投资者应该注意到,锦州港的总股东回报(TSR)与其股价变化之间存在差异,我们在上面已经谈到了这一点。TSR试图获取股息的价值(就像它们被再投资一样),以及向股东提供的任何剥离或折价融资。股息对锦州港的股东来说确实是有益的,这种现金支付也是锦州港过去5年29%的TSR好于股价回报的原因之一。

A Different Perspective

不同的视角

It's nice to see that Jinzhou Port shareholders have received a total shareholder return of 10.0% over the last year. That's better than the annualised return of 5% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. It's always interesting to track share price performance over the longer term. But to understand Jinzhou Port better, we need to consider many other factors. Like risks, for instance. Every company has them, and we've spotted 3 warning signs for Jinzhou Port (of which 2 are a bit concerning!) you should know about.

很高兴看到锦州港股东在过去一年中获得了10.0%的总股东回报。这比过去五年5%的年化回报率要好,这意味着该公司最近的表现更好。持乐观观点的人可能会认为,最近TSR的改善表明,业务本身正在随着时间的推移而变得更好。跟踪股价的长期表现总是很有趣的。但要更好地了解锦州港,还需要考虑许多其他因素。比如风险。每家公司都有它们,我们已经发现锦州港3个警示标志(其中两个有点令人担忧!)你应该知道。

We will like Jinzhou Port better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.

如果我们看到一些大的内部收购,我们会更喜欢锦州港。在我们等待的时候,看看这个免费最近有大量内幕收购的成长型公司名单。

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.

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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。

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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