Zhongshan Public Utilities GroupLtd (SZSE:000685) Stock Falls 4.4% in Past Week as Three-year Earnings and Shareholder Returns Continue Downward Trend
Zhongshan Public Utilities GroupLtd (SZSE:000685) Stock Falls 4.4% in Past Week as Three-year Earnings and Shareholder Returns Continue Downward Trend
There is no denying that markets are sometimes efficient, but prices do not always reflect 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. It can certainly be frustrating when a stock does not perform as hoped. But it's hard to avoid some disappointing investments when the overall market is down. The Zhongshan Public Utilities Group Co.,Ltd (SZSE:000685) is down 18% over three years, but the total shareholder return is -9.4% once you include the dividend. That's better than the market which declined 13% over the last three years. The falls have accelerated recently, with the share price down 11% in the last three months. However, one could argue that the price has been influenced by the general market, which is down 12% in the same timeframe.
當一隻股票的表現不如預期時，肯定會令人沮喪。但在整體市場低迷時，很難避免一些令人失望的投資。這個中山市公用事業集團有限公司深交所(SZSE：000685)三年來下跌了18%，但如果計入股息，總股東回報率為-9.4%。這比過去三年下跌了13%的市場要好。股價最近加速下跌，在過去三個月裡下跌了11%。然而，有人可能會辯稱，價格受到了大盤的影響，大盤在同一時間段內下跌了12%。
With the stock having lost 4.4% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.
鑑於該公司股價在過去一週下跌了4.4%，我們有必要看看它的業務表現，看看它是否有任何危險信號。
See our latest analysis for Zhongshan Public Utilities GroupLtd
查看我們對中山公用事業集團有限公司的最新分析
There is no denying that markets are sometimes efficient, but prices do not always reflect 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.
不可否認，市場有時是有效的，但價格並不總是反映潛在的商業表現。通過比較每股收益(EPS)和股價隨時間的變化，我們可以感受到投資者對一家公司的態度隨著時間的推移發生了怎樣的變化。
Zhongshan Public Utilities GroupLtd saw its EPS decline at a compound rate of 3.8% per year, over the last three years. The share price decline of 6% is actually steeper than the EPS slippage. So it seems the market was too confident about the business, in the past. This increased caution is also evident in the rather low P/E ratio, which is sitting at 9.19.
在過去的三年裡，中山公用事業集團的每股收益以每年3.8%的復合速度下降。6%的股價跌幅實際上比每股收益下滑幅度更大。因此，過去市場似乎對這項業務過於自信。這種更加謹慎的態度也明顯體現在相當低的本益比上，目前為9.19倍。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下圖描述了EPS是如何隨著時間的推移而變化的(通過單擊圖像來揭示確切的值)。
Dive deeper into Zhongshan Public Utilities GroupLtd's key metrics by checking this interactive graph of Zhongshan Public Utilities GroupLtd's earnings, revenue and cash flow.
通過查看中山公用事業集團有限公司收益、收入和現金流的互動圖，更深入地瞭解中山公用事業集團有限公司的關鍵指標。
What About Dividends?
那股息呢？
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for Zhongshan Public Utilities GroupLtd the TSR over the last 3 years was -9.4%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
重要的是要考慮任何給定股票的總股東回報以及股價回報。TSR包括任何剝離或貼現融資的價值，以及任何股息，基於股息再投資的假設。公平地說，TSR為支付股息的股票提供了更完整的圖景。我們注意到，中山公用事業集團有限公司過去3年的TSR為-9.4%，好於上述股價回報率。而且，猜測股息支付在很大程度上解釋了這種差異是沒有好處的！
A Different Perspective
不同的視角
It's good to see that Zhongshan Public Utilities GroupLtd has rewarded shareholders with a total shareholder return of 10% in the last twelve months. And that does include the dividend. That gain is better than the annual TSR over five years, which is 4%. Therefore it seems like sentiment around the company has been positive lately. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. 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. Consider risks, for instance. Every company has them, and we've spotted 2 warning signs for Zhongshan Public Utilities GroupLtd you should know about.
很高興看到中山公用事業集團有限公司在過去的12個月裡以10%的總股東回報回報了股東。這確實包括了股息。這一收益好於五年內4%的年度TSR。因此，最近圍繞該公司的情緒似乎一直是積極的。鑑於股價勢頭依然強勁，仔細觀察這只股票可能是值得的，以免錯過預期和機會。雖然值得考慮市場狀況對股價可能產生的不同影響，但還有其他更重要的因素。例如，考慮一下風險。每家公司都有它們，我們已經發現中山公用事業集團有限公司2個警示標誌你應該知道。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你喜歡和管理層一起買股票，那麼你可能會喜歡這本書免費公司名單.(提示:內部人士一直在買入這些股票)。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
請注意，本文引用的市場回報反映了目前在中國交易所交易的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.
對這篇文章有什麼反饋嗎？擔心內容嗎？ 保持聯繫直接與我們聯繫.或者，也可以給編輯組發電子郵件，地址是暗示Wallst.com。
本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.