Analysts Are Updating Their Tingyi (Cayman Islands) Holding Corp. (HKG:322) Estimates After Its Half-Year Results
Analysts Are Updating Their Tingyi (Cayman Islands) Holding Corp. (HKG:322) Estimates After Its Half-Year Results
It's been a good week for Tingyi (Cayman Islands) Holding Corp. (HKG:322) shareholders, because the company has just released its latest half-year results, and the shares gained 8.5% to HK$10.20. It was a credible result overall, with revenues of CN¥41b and statutory earnings per share of CN¥0.55 both in line with analyst estimates, showing that Tingyi (Cayman Islands) Holding is executing in line with expectations. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
对于康师傅控股(开曼群岛)控股有限公司(HKG:322)的股东来说,这是一个不错的一周,因为该公司刚刚发布了最新的半年度业绩,股价上涨了8.5%,至10.20港元。整体而言,这是一个可靠的结果,营业收入为410亿人民币,每股盈利为0.55人民币,均与分析师预期一致,表明康师傅控股(开曼群岛)控股有限公司正在按预期执行。在这一结果公布后,分析师们已更新了盈利模型,了解他们是否认为公司前景发生了重大变化,还是一切照常,将是非常有意思的。我们认为读者会发现这些分析师对明年最新(法定)盈利预测很有趣。
![1724884254909](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240829/43027658-0-2a7eef4e50496b5b4e64d4af7508e29c.webp/bigjpg)
Taking into account the latest results, Tingyi (Cayman Islands) Holding's 23 analysts currently expect revenues in 2024 to be CN¥82.0b, approximately in line with the last 12 months. Statutory earnings per share are predicted to accumulate 5.4% to CN¥0.63. In the lead-up to this report, the analysts had been modelling revenues of CN¥83.8b and earnings per share (EPS) of CN¥0.62 in 2024. So it's pretty clear that while sentiment around revenues has declined following the latest results, the analysts are now more bullish on the company's earnings power.
考虑到最新的业绩,康师傅控股(开曼群岛)控股有限公司的23位分析师预计2024年的营业收入将达到820亿人民币,与过去12个月大致相当。预计每股盈利将累计增长5.4%,至0.63人民币。在该报告发布之前,分析师们一直在预测2024年的营业收入为838亿人民币,每股盈利(EPS)为0.62人民币。可以很明显地看出,尽管最新业绩公布后人们对营业收入的情绪有所下降,但分析师们现在对公司的盈利能力更加看好。
There's been no real change to the average price target of HK$11.57, with the lower revenue and higher earnings forecasts not expected to meaningfully impact the company's valuation over a longer timeframe. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Tingyi (Cayman Islands) Holding, with the most bullish analyst valuing it at HK$13.04 and the most bearish at HK$8.59 per share. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Tingyi (Cayman Islands) Holding shareholders.
HK$11.57的平均目标价格没有实质性变化,预期的较低营收和更高盈利预测不太可能在较长时间范围内对公司的估值产生实质性影响。然而,从这些数据还可以得出其他结论,因为一些投资者在评估分析师的目标股价时还喜欢考虑预测分歧。关于康师傅控股(开曼群岛)控股有限公司存在一些不同的看法,最看好的分析师将其价值定为HK$13.04,而最看淡的分析师将其价值定为HK$8.59。分析师对该业务的看法确实存在差异,但在我们看来,各种预测之间的差距并不足以说明极端的结果可能会等待康师傅控股(开曼群岛)控股有限公司的股东。
Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. It's pretty clear that there is an expectation that Tingyi (Cayman Islands) Holding's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 3.1% growth on an annualised basis. This is compared to a historical growth rate of 6.8% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 5.8% annually. Factoring in the forecast slowdown in growth, it seems obvious that Tingyi (Cayman Islands) Holding is also expected to grow slower than other industry participants.
我们可以从更宏观的角度来看待这些估算,比如预测与历史数据的比较,以及预测相对于行业其他公司的偏向性。很明显,人们预期康师傅(开曼群岛)控股的营业收入增长将大幅放缓,预计到2024年底,年均增长率将达到3.1%。这与过去五年的历史增长率6.8%相比。将其与行业其他(有分析师预测)的公司相比较,预计将年均实现营收增长5.8%。考虑到预测增速放缓,康师傅(开曼群岛)控股的增长速度明显慢于其他行业参与者。
The Bottom Line
最重要的事情是分析师增加了它对下一年每股亏损的估计。令人欣慰的是,营收预测未发生重大变化,业务仍有望比整个行业增长更快。共识价格目标稳定在28.50美元,最新估计不足以对价格目标产生影响。
The most important thing here is that the analysts upgraded their earnings per share estimates, suggesting that there has been a clear increase in optimism towards Tingyi (Cayman Islands) Holding following these results. On the negative side, they also downgraded their revenue estimates, and forecasts imply they will perform worse than the wider industry. Still, earnings per share are more important to value creation for shareholders. The consensus price target held steady at HK$11.57, with the latest estimates not enough to have an impact on their price targets.
最重要的是,分析师调高了每股收益的预估,表明人们对康师傅(开曼群岛)控股的乐观情绪明显增加。但另一方面,他们也下调了营业收入的预估,并且预测意味着他们的表现将不如整个行业。尽管如此,每股收益更加重要,对股东的价值创造更有意义。共识价格目标稳定在11.57港元,最新的预估对其价格目标没有产生足够的影响。
With that in mind, we wouldn't be too quick to come to a conclusion on Tingyi (Cayman Islands) Holding. Long-term earnings power is much more important than next year's profits. At Simply Wall St, we have a full range of analyst estimates for Tingyi (Cayman Islands) Holding going out to 2026, and you can see them free on our platform here..
考虑到这一点,我们不应该过快得出关于康师傅(开曼群岛)控股的结论。长期的盈利能力比明年的利润更为重要。在Simply Wall St,我们对康师傅(开曼群岛)控股的分析师预估提供了完整的区间,延伸至2026年,您可以免费在我们的平台上查看。
That said, it's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Tingyi (Cayman Islands) Holding , and understanding this should be part of your investment process.
尽管如此,考虑投资风险的永恒魅影仍然是必要的。我们已经发现康师傅(开曼群岛)控股有1个警示信号,理解这一点应成为您投资过程的一部分。
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.
对本文有任何反馈?对内容有任何疑虑?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。