The Five-year Earnings Decline Is Not Helping Berkshire Hills Bancorp's (NYSE:BHLB Share Price, as Stock Falls Another 8.1% in Past Week
The Five-year Earnings Decline Is Not Helping Berkshire Hills Bancorp's (NYSE:BHLB Share Price, as Stock Falls Another 8.1% in Past Week
Ideally, your overall portfolio should beat the market average. But the main game is to find enough winners to more than offset the losers At this point some shareholders may be questioning their investment in Berkshire Hills Bancorp, Inc. (NYSE:BHLB), since the last five years saw the share price fall 15%. On top of that, the share price is down 8.1% in the last week. But this could be related to the soft market, which is down about 4.0% in the same period.
理想情況下,您的整體投資組合應該超過市場平均水平。但主要的目標是找到足夠的贏家,以彌補輸家的損失。此時,一些股東可能對他們在Berkshire Hills Bancorp, Inc.(紐交所:BHLB)的投資產生質疑,因爲過去五年股價下跌了15%。此外,股價在過去一週下跌了8.1%。但這可能與市場疲軟有關,市場在同一時期下跌了約4.0%。
Since Berkshire Hills Bancorp has shed US$105m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
由於Berkshire Hills Bancorp在過去7天內失去了10500萬美元的市值,讓我們看看長期的下降是否是由公司的經濟狀況所驅動的。
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.
儘管高效市場假說仍然被一些人教授,但已經證明市場是過度反應的動態系統,投資者並不總是理性。評估公司周圍的情緒如何變化的一種缺陷但合理的方法是比較每股收益(EPS)與股價。
Looking back five years, both Berkshire Hills Bancorp's share price and EPS declined; the latter at a rate of 12% per year. This fall in the EPS is worse than the 3% compound annual share price fall. The relatively muted share price reaction might be because the market expects the business to turn around.
回顧過去五年,Berkshire Hills Bancorp的股價和每股收益都出現了下降;後者的下降率爲每年12%。每股收益的下降比3%的複合年股價下降更爲嚴重。相對較爲平淡的股價反應可能是因爲市場預計業務將會好轉。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
您可以在下面看到EPS如何隨時間變化(點擊圖片可以發現具體數值)。
It's probably worth noting that the CEO is paid less than the median at similar sized 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. Dive deeper into the earnings by checking this interactive graph of Berkshire Hills Bancorp's earnings, revenue and cash flow.
值得一提的是,這位CEO的薪酬低於類似規模公司的中位數。密切關注CEO的薪酬固然重要,但更重要的問題是公司是否能夠在未來幾年內實現盈利增長。通過查看伯克希爾山銀行的收益、營業收入和現金流的交互式圖表,深入了解這些收益。
What About Dividends?
關於分紅派息的問題
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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 Berkshire Hills Bancorp the TSR over the last 5 years was -1.4%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
在考慮投資回報時,重要的是要考慮總股東回報(TSR)與股價回報之間的區別。TSR是一種回報計算,考慮了現金分紅的價值(假設任何收到的分紅都被再投資)以及任何折扣資本募集和分拆的計算價值。可以說,TSR提供了股票所產生回報的更全面的圖景。我們注意到,對於伯克希爾山銀行,過去5年的TSR爲-1.4%,這好於上述股價回報。這在很大程度上是由於其分紅支付的結果!
A Different Perspective
不同的視角
Berkshire Hills Bancorp shareholders are up 17% for the year (even including dividends). But that return falls short of the market. On the bright side, that's still a gain, and it is certainly better than the yearly loss of about 0.3% endured over half a decade. So this might be a sign the business has turned its fortunes around. 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. Case in point: We've spotted 2 warning signs for Berkshire Hills Bancorp you should be aware of.
伯克希爾山銀行的股東今年上漲了17%(甚至包括分紅)。但這個回報仍然低於市場。好的一面是,這仍然是一個增長,確實比過去五年每年約0.3%的損失要好。因此,這可能是企業扭轉了命運的一個跡象。雖然考慮市場條件對股價的不同影響非常重要,但還有其他更重要的因素。舉個例子:我們已發現2個您應該注意的伯克希爾山銀行的警示信號。
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
如果你更傾向於查看其他公司——一個財務狀況可能更優的公司——那麼不要錯過這個免費的公司列表,它們已經證明能夠實現盈利增長。
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,本文中引用的市場回報反映了當前在美國交易所上市股票的市場加權平均回報。
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對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。