Despite the Downward Trend in Earnings at CNB Financial (NASDAQ:CCNE) the Stock Swells 15%, Bringing One-year Gains to 26%
Despite the Downward Trend in Earnings at CNB Financial (NASDAQ:CCNE) the Stock Swells 15%, Bringing One-year Gains to 26%
During the last year, CNB Financial actually saw its earnings per share drop 24%. On average, over time, stock markets tend to rise higher. This makes investing attractive. But if you choose that path, you're going to buy some stocks that fall short of the market. For example, the CNB Financial Corporation (NASDAQ:CCNE), share price is up over the last year, but its gain of 22% trails the market return. On the other hand, longer term shareholders have had a tougher run, with the stock falling 0.6% in three years.
總體而言，股市隨時間的推移往往會上漲，這使得投資變得有吸引力。但是，如果您選擇這條路，您將會買入一些表現不及市場的股票。例如，CNb金融公司（NASDAQ:CCNE）股價在過去一年中上漲了，但其22%的漲幅不及市場回報。另一方面，長期股東的處境更爲艱難，股價在三年內下跌了0.6%。
On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns.
在穩定的七天表現之後，讓我們看看公司的基本面對長期股東回報的影響。
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. 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.
引用本傑明·格雷厄姆的話：在短期內，市場是投票機，但在長期內，市場是稱重機。通過比較每股收益（EPS）和股票價格的時間變化，我們可以感受到投資者對公司的態度隨時間而變化。
During the last year, CNB Financial actually saw its earnings per share drop 24%.
在過去的一年中，CNb金融的每股收益實際上下降了24%。
This means it's unlikely the market is judging the company based on earnings growth. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
這意味着市場不太可能根據收益增長來判斷該公司。由於每股收益的變化似乎與股價的變化無關，因此值得關注其他指標。
Revenue was pretty stable on last year, so deeper research might be needed to explain the share price rise.
去年的收入相當穩定，因此可能需要進行更深入的研究才能解釋股價上漲。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下面的圖表顯示了收益和營收隨時間的變化情況（通過單擊圖像揭示確切的值）。
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. If you are thinking of buying or selling CNB Financial stock, you should check out this free report showing analyst profit forecasts.
我們很高興地宣佈，該公司的CEO的薪酬比同等市值的其他公司的大多數CEO都更加適中。CEO的薪酬值得關注，但更重要的問題是這家公司是否會在未來年份中增長收益。如果您考慮購買或出售CNb金融的股票，您應該查看這份顯示分析師盈利預測的免費報告。
What About Dividends?
那麼分紅怎麼樣呢？
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, CNB Financial's TSR for the last 1 year was 26%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在查看投資回報時，重要的是要考慮總股東回報(TSR)和股價回報之間的差異。股價回報僅反映股價的變化，而TSR包括股息的價值(假設它們被再投資)以及任何折價的資本籌資或分拆的好處。可以說TSR爲支付分紅派息的股票提供了更完整的圖片。實際上，CNb金融在過去一年的TSR爲26%，超過了前面提到的股價回報。這很大程度上是由於其分紅派息！
A Different Perspective
不同的觀點
CNB Financial provided a TSR of 26% over the year (including dividends). That's fairly close to the broader market return. To take a positive view, the gain is pleasing, and it sure beats annualized TSR loss of 0.3%, which was endured over half a decade. We're pretty skeptical of turnaround stories, but it's good to see the recent share price recovery. Before spending more time on CNB Financial it might be wise to click here to see if insiders have been buying or selling shares.
CNb金融在過去一年中提供了包括股息在內的26%的TSR。那相當接近更廣泛的市場回報。積極看待這種收益是令人高興的，但肯定優於在半個世紀中遭受的年化TSR損失0.3%。我們對扭虧爲盈的故事持相當懷疑態度，但看到最近股價的反彈是好事。在更多地花時間研究CNb金融之前，最好點擊此處查看內部人士是否一直在買入或出售股票。
But note: CNB Financial 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).
但是需要注意的是：CNb金融可能不是最好的股票買入選擇。所以請查看這個免費的有過去盈利增長(以及未來增長預期)的有趣公司清單。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
請注意，本文所引述的市場回報反映了目前在美國交易所上市的股票的市場加權平均回報。
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.
對本文有反饋？對內容感到擔憂？請直接與我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？對內容感到擔憂？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。