Pulling Back 5.6% This Week, Changjiang Publishing & MediaLtd's SHSE:600757) One-year Decline in Earnings May Be Coming Into Investors Focus
Pulling Back 5.6% This Week, Changjiang Publishing & MediaLtd's SHSE:600757) One-year Decline in Earnings May Be Coming Into Investors Focus
While Changjiang Publishing & Media Co.,Ltd (SHSE:600757) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 15% in the last quarter. But that doesn't change the fact that the returns over the last year have been pleasing. After all, the share price is up a market-beating 31% in that time.
而当长江出版传媒有限公司(上海证券交易所：600757)股东可能总体上很满意，该股最近表现不是特别好，上个季度股价下跌了15%。但这并没有改变一个事实，即过去一年的回报一直令人满意。毕竟，在这段时间里，该公司股价上涨了31%，涨幅超过了市场。
Since the long term performance has been good but there's been a recent pullback of 5.6%, let's check if the fundamentals match the share price.
由于长期表现良好，但最近出现了5.6%的回调，让我们看看基本面是否与股价匹配。
View our latest analysis for Changjiang Publishing & MediaLtd
查看我们对长江出版传媒有限公司的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
在他的文章中格雷厄姆和多德斯维尔的超级投资者沃伦·巴菲特描述了股价并不总是理性地反映一家企业的价值。考察市场情绪如何随时间变化的一种方法是观察一家公司的股价和每股收益(EPS)之间的相互作用。
Over the last twelve months, Changjiang Publishing & MediaLtd actually shrank its EPS by 2.2%.
在过去的12个月里，长江出版传媒有限公司的每股收益实际上缩水了2.2%。
We don't think that the decline in earnings per share is a good measure of the business over the last twelve months. 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.
我们认为，每股收益的下降不能很好地衡量过去12个月的业务。由于每股收益的变化似乎与股价的变化没有相关性，因此值得看看其他指标。
We haven't seen Changjiang Publishing & MediaLtd increase dividend payments yet, so the yield probably hasn't helped drive the share higher. The slightly diminished revenue is not particularly impressive, at a glance, so that doesn't explain the share price boost.
我们还没有看到长江出版传媒有限公司增加股息支付，所以收益率可能并没有推动股价走高。乍一看，收入略有下降并不是特别令人印象深刻，因此这并不能解释股价上涨的原因。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下图描述了收益和收入随时间的变化(通过单击图像来揭示确切的价值)。
This free interactive report on Changjiang Publishing & MediaLtd's balance sheet strength is a great place to start, if you want to investigate the stock further.
这免费如果你想进一步调查长江出版传媒股份有限公司的股票，那么关于该公司资产负债表实力的互动报告是一个很好的起点。
What About Dividends?
那股息呢？
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. As it happens, Changjiang Publishing & MediaLtd's TSR for the last 1 year was 36%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股价回报外，投资者还应考虑总股东回报(TSR)。TSR是一种回报计算，计入了现金股息的价值(假设收到的任何股息都进行了再投资)，以及任何贴现融资和剥离的计算价值。可以说，TSR更全面地描绘了一只股票产生的回报。碰巧的是，长江出版传媒有限公司最近一年的TSR为36%，超过了前面提到的股价回报。这在很大程度上是其股息支付的结果！
A Different Perspective
不同的视角
We're pleased to report that Changjiang Publishing & MediaLtd shareholders have received a total shareholder return of 36% over one year. And that does include the dividend. That gain is better than the annual TSR over five years, which is 8%. Therefore it seems like sentiment around the company has been positive lately. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. It's always interesting to track share price performance over the longer term. But to understand Changjiang Publishing & MediaLtd better, we need to consider many other factors. Even so, be aware that Changjiang Publishing & MediaLtd is showing 1 warning sign in our investment analysis , you should know about...
我们很高兴地报告，长江出版传媒有限公司的股东在一年的时间里获得了36%的总股东回报。这确实包括了股息。这一收益好于过去五年的年度TSR，后者为8%。因此，最近围绕该公司的情绪似乎一直是积极的。在最好的情况下，这可能暗示着一些真正的商业势头，意味着现在可能是深入研究的好时机。跟踪股价的长期表现总是很有趣的。但要更好地理解长江出版传媒有限公司，我们还需要考虑许多其他因素。即便如此，请注意长江出版传媒有限公司正在展示在我们的投资分析中出现1个警告信号，你应该知道关于……
We will like Changjiang Publishing & MediaLtd better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
如果我们看到一些大的内部收购，我们会更喜欢长江出版传媒有限公司。在我们等待的时候，看看这个免费最近有大量内幕收购的成长型公司名单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
请注意，本文引用的市场回报反映了目前在中国交易所交易的股票的市场加权平均回报。
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。