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Shareholders in Shanghai Construction Group (SHSE:600170) Are in the Red If They Invested Three Years Ago

Shareholders in Shanghai Construction Group (SHSE:600170) Are in the Red If They Invested Three Years Ago

上海建工集团(SHSE: 600170)的股东如果在三年前投资,就会陷入亏损
Simply Wall St ·  2023/10/26 09:41

You can invest in an index fund if you want to make sure your returns approximately match the overall market. But in any given year a good portion of stocks will fall short of that. The Shanghai Construction Group Co., Ltd. (SHSE:600170) is such an example; over three years its share price is down 12% versus a marketdecline of 12%.

如果你想确保你的回报与整体市场大致相符,你可以投资指数基金。但在任何一年,都会有很大一部分股票达不到这一要求。这个上海建工集团有限公司。(上海证券交易所股票代码:600170)就是这样一个例子;在三年的时间里,它的股价下跌了12%,而市场跌幅为12%。

Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns.

由于股东在较长期内下跌,让我们看看这段时间的基本基本面,看看它们是否与回报一致。

View our latest analysis for Shanghai Construction Group

查看我们对上海建工集团的最新分析

While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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.

虽然有效市场假说继续被一些人传授,但事实证明,市场是过度反应的动态系统,投资者并不总是理性的。评估围绕一家公司的情绪变化的一个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 unfortunate three years of share price decline, Shanghai Construction Group actually saw its earnings per share (EPS) improve by 2.0% per year. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Or else the company was over-hyped in the past, and so its growth has disappointed.

在不幸的股价下跌的三年中,上海建工集团的每股收益(EPS)实际上以每年2.0%的速度增长。考虑到股价的反应,人们可能会怀疑,每股收益不是这段时间内业务表现的良好指南(可能是因为一次性的亏损或收益)。或者,该公司过去被过度炒作,因此其增长令人失望。

Given that EPS is up and the share price is down, it seems clear the market is less excited about the business than it was. Having said that, if the EPS gains continue we'd expect the share price to improve, longer term.

鉴于每股收益上涨,股价下跌,显然市场对这项业务的热情没有以前那么高了。话虽如此,如果每股收益继续上涨,我们预计股价将在更长时间内改善。

The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

该公司的每股收益(在一段时间内)如下图所示(点击查看具体数字)。

earnings-per-share-growth
SHSE:600170 Earnings Per Share Growth October 26th 2023
上海证交所:2023年10月26日每股收益增长600170

We know that Shanghai Construction Group has improved its bottom line lately, but is it going to grow revenue? Check if analysts think Shanghai Construction Group will grow revenue in the future.

我们知道上海建工集团最近提高了利润,但它会增加收入吗?如果分析师认为上海建工集团未来会增加收入,请核对一下。

A Different Perspective

不同的视角

It's nice to see that Shanghai Construction Group shareholders have received a total shareholder return of 4.7% over the last year. Of course, that includes the dividend. There's no doubt those recent returns are much better than the TSR loss of 2% per year over five years. This makes us a little wary, but the business might have turned around its fortunes. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For instance, we've identified 1 warning sign for Shanghai Construction Group that you should be aware of.

很高兴看到上海建工集团的股东在过去一年中获得了4.7%的总股东回报。当然,这包括股息。毫无疑问,最近的回报率远远好于TSR在过去五年中每年2%的损失。这让我们有点警惕,但这家企业可能已经扭转了命运。我发现,把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力,我们还需要考虑其他信息。例如,我们已经确定上海建工集团的1个警示标志这一点你应该知道。

But note: Shanghai Construction Group 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).

但请注意:上海建工集团可能不是最值得买入的股票。所以让我们来看看这个免费过去有盈利增长(以及进一步增长预测)的有趣公司名单。

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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