Further Weakness as Kennedy-Wilson Holdings (NYSE:KW) Drops 4.2% This Week, Taking Five-year Losses to 39%
Further Weakness as Kennedy-Wilson Holdings (NYSE:KW) Drops 4.2% This Week, Taking Five-year Losses to 39%
While it may not be enough for some shareholders, we think it is good to see the Kennedy-Wilson Holdings, Inc. (NYSE:KW) share price up 13% in a single quarter. But over the last half decade, the stock has not performed well. After all, the share price is down 54% in that time, significantly under-performing the market.
股价在一个季度内上涨13%,虽然对某些股东来说可能不足够,但我们认为这是好事。但在过去的五年里,这只股票表现不佳。毕竟,在这段时间内,股价下跌了54%,远远不如市场表现。
After losing 4.2% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.
在失去了4.2%之后的这个星期,值得调查公司的基本面,以了解我们可以从过去的表现中推断出什么。
Kennedy-Wilson Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Shareholders of unprofitable companies usually desire strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings.
目前,肯纳迪-威尔逊控股公司(NYSE:KW)没有盈利,因此大多数分析师会寻找营收增长,以了解其基础业务增长速度快慢。亏损公司的股东通常希望有强劲的营收增长。一些公司愿意推迟盈利以加快收入增长,但在这种情况下,人们希望有良好的营收增长来弥补缺乏收益的不足。在过去五年中,肯纳迪-威尔逊控股的营收年均下降3.3%。虽然这远非灾难性,但仍不够好。由于该公司亏损,收入趋势不佳,股价在五年内累计下跌9%。这只股票的投资者热情似乎不如Louise Brooks美丽。并不是许多投资者喜欢投资于亏损且收入不增的公司。
In the last five years Kennedy-Wilson Holdings saw its revenue shrink by 3.3% per year. While far from catastrophic that is not good. The share price decline of 9% compound, over five years, is understandable given the company is losing money, and revenue is moving in the wrong direction. The chance of imminent investor enthusiasm for this stock seems slimmer than Louise Brooks. Not that many investors like to invest in companies that are losing money and not growing revenue.
在考虑任何给定股票的股价回报和总股东回报时,总股东回报是很重要的。TSR是一个计算回报的公式,它考虑了现金股息的价值(假设任何收到的股息都被再投资)以及任何折扣的资本增发和分拆的价值。可以说,TSR给出了一幅更全面的股票回报图。我们注意到,肯纳迪-威尔逊控股过去5年的TSR为-39%,比上述股价回报好。而且毫无疑问,分红派息在很大程度上解释了这种差距!
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下图显示了收益和营收随时间变化的情况(如果你点击图像,可以看到更多细节):
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240711/0-56f3f15d8b62f4c3415da7ec799e3dea-0-3d53e7e03c64c986a0f0c8d7b62ea70d.png/big)
We like that insiders have been buying shares in the last twelve months. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. So we recommend checking out this free report showing consensus forecasts
我们喜欢内部人在过去12个月内购买股票。话虽如此,大多数人认为收益和营收增长趋势是业务的更有意义的指导。因此,我们建议查看此免费报告以显示共识预测。
What About Dividends?
那么分红怎么样呢?
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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Kennedy-Wilson Holdings the TSR over the last 5 years was -39%, 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!
对于任何给定的股票,考虑总股东回报和股价回报都很重要。 TSR是一个回报计算公式,它考虑了现金股息的价值(假设任何收到的股息都被再投资)以及任何折扣的资本增发和分拆的价值。可以说,TSR给出了一幅更全面的股票回报图。我们注意到,肯纳迪-威尔逊控股公司过去5年的TSR为-39%,比上述股价回报好。而且毫无疑问,分红派息在很大程度上解释了这种差距!
A Different Perspective
不同的观点
Kennedy-Wilson Holdings shareholders are down 40% for the year (even including dividends), but the market itself is up 25%. 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. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 7% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. 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. For example, we've discovered 3 warning signs for Kennedy-Wilson Holdings (2 shouldn't be ignored!) that you should be aware of before investing here.
尽管包括股息,肯纳迪-威尔逊控股的股东今年亏损了40%,但市场本身上涨了25%。即使股票价格下跌,我们也希望看到企业基本业务指标的改善才会更感兴趣。可悔的是,去年的表现标志着一个糟糕的状况,股东在过去五年中面临着总损失7%的情况。我们意识到,巴伦·罗斯柴尔德(Baron Rothschild)曾经说过,投资者应该在“街头有血”时购买股票,但我们警告投资者首先要确定他们正在购买高质量的业务。 虽然考虑市场条件可以对股票价格产生不同的影响,但其他因素更加重要。例如,我们发现了3个肯纳迪-威尔逊控股公司的警示信号(2个不应忽略!),在此之前投资时应该注意这些信号。
Kennedy-Wilson Holdings is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket.
肯纳迪-威尔逊控股公司不是唯一的内部人员正在购买的股票。对于那些想要找到较少知名公司的人,最近有内部交易的成长型公司的免费列表可能会更好。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市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.
对本文有反馈?关注内容?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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