Lakeland Financial's (NASDAQ:LKFN) Earnings Growth Rate Lags the 10.0% CAGR Delivered to Shareholders
Lakeland Financial's (NASDAQ:LKFN) Earnings Growth Rate Lags the 10.0% CAGR Delivered to Shareholders
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Furthermore, you'd generally like to see the share price rise faster than the market. But Lakeland Financial Corporation (NASDAQ:LKFN) has fallen short of that second goal, with a share price rise of 41% over five years, which is below the market return. Zooming in, the stock is up just 5.0% in the last year.
當你長期買入並持有一隻股票時,你肯定希望它能夠提供正回報。此外,你通常希望看到股價的上漲速度快於市場。但是,萊克蘭金融公司(納斯達克:LKFN)在實現這一第二目標上有所欠缺,五年來股價上漲了41%,低於市場回報。進一步分析,該股票在過去一年僅上漲了5.0%。
In light of the stock dropping 5.3% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive five-year return.
考慮到過去一週股價下跌了5.3%,我們想調查更長期的情況,看看基本面是否推動了該公司積極的五年回報。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.
儘管市場是一個強大的定價機制,股價反映了投資者情緒,而不僅僅是基礎業務表現。 通過比較每股收益(EPS)和股價的變化,我們可以感受到投資者對公司的態度是如何隨時間演變的。
During five years of share price growth, Lakeland Financial achieved compound earnings per share (EPS) growth of 2.8% per year. This EPS growth is slower than the share price growth of 7% per year, over the same period. This suggests that market participants hold the company in higher regard, these days. And that's hardly shocking given the track record of growth.
在五年的股價增長過程中,萊克蘭金融實現了每股收益(EPS)年均複合增長2.8%。在同一時期,這一EPS的增長速度低於每年7%的股價增長。這表明市場參與者對公司的評估在近年來有所提高。考慮到其增長的業績記錄,這並不令人感到驚訝。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下面的圖像顯示了EPS隨時間的變化(如果你點擊圖像,可以看到更詳細的信息)。
We consider it positive that insiders have made significant purchases in the last year. Having said that, most people consider earnings and revenue growth trends to be a more meaningful guide to the business. This free interactive report on Lakeland Financial's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.
我們認爲管理層在過去一年進行了大量購買是積極的。 話雖如此,大多數人認爲盈利和營業收入增長趨勢對業務而言是更有意義的指導。如果您想進一步研究這隻股票,這份關於萊克蘭金融的盈利、營業收入和現金流的免費互動報告是一個很好的開始。
What About Dividends?
關於分紅派息的問題
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. In the case of Lakeland Financial, it has a TSR of 61% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
除了測量股票價格回報外,投資者還應該考慮總股東回報(TSR)。 TSR是一種回報計算方法,考慮了現金分紅的價值(假設收到的任何分紅被再投資)以及任何折扣籌資和拆分的計算價值。 可以說,TSR提供了股票所產生的回報的更全面的圖景。 對於萊克蘭金融來說,過去5年的TSR爲61%。 這超過了我們之前提到的股票價格回報。 因此,公司支付的分紅提升了總股東回報。
A Different Perspective
不同的視角
Lakeland Financial shareholders are up 8.1% for the year (even including dividends). But that return falls short of the market. On the bright side, the longer term returns (running at about 10% a year, over half a decade) look better. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. 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. To that end, you should be aware of the 1 warning sign we've spotted with Lakeland Financial .
萊克蘭金融的股東今年上漲了8.1%(即使包括分紅在內)。 但這一回報未能趕上市場。 從好的一面來看,長期回報(約10%的年增速,超過五年)表現更好。 鑑於市場對其的持續積極反響,這可能是一項值得關注的業務。 我發現從長遠來看觀察股票價格非常有趣,可以作爲業務表現的代理。 但要真正獲得洞察,我們還需要考慮其他信息。 爲此,您應該注意到我們發現的萊克蘭金融的1個警告信號。
Lakeland Financial is not the only stock insiders are buying. So take a peek at this free list of small cap companies at attractive valuations which insiders have been buying.
萊克蘭金融並不是唯一買入的股票。快來看看這份免費的吸引估值的小盤公司名單,這些公司都是內部人士在買入的。
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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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。