The Past Three Years for BTG Hotels (Group) (SHSE:600258) Investors Has Not Been Profitable
The Past Three Years for BTG Hotels (Group) (SHSE:600258) Investors Has Not Been Profitable
Many investors define successful investing as beating the market average over the long term. But the risk of stock picking is that you will likely buy under-performing companies. We regret to report that long term BTG Hotels (Group) Co., Ltd. (SHSE:600258) shareholders have had that experience, with the share price dropping 43% in three years, versus a market decline of about 19%. And over the last year the share price fell 39%, so we doubt many shareholders are delighted. Shareholders have had an even rougher run lately, with the share price down 14% in the last 90 days. Of course, this share price action may well have been influenced by the 6.4% decline in the broader market, throughout the period.
許多投資者將成功的投資定義爲長期超過市場平均水平。但是選股的風險在於,你可能會買入表現不佳的公司。我們遺憾地報告,北京首旅酒店(集團)有限公司(SHSE: 600258)的長期股東就是這樣的經歷,股價在三年內下跌了43%,而市場跌幅約爲19%。在過去的一年中,股價下跌了39%,因此我們懷疑許多股東是否感到高興。股東們最近的表現更加艱難,股價在過去90天中下跌了14%。當然,這種股價走勢很可能受到了整個時期大盤下跌6.4%的影響。
So let's have a look and see if the longer term performance of the company has been in line with the underlying business' progress.
因此,讓我們來看看公司的長期表現是否與基礎業務的進展一致。
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 imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
儘管一些人繼續教導高效市場假說,但事實證明,市場是反應過度的動態系統,投資者並不總是理性的。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。
During five years of share price growth, BTG Hotels (Group) moved from a loss to profitability. We would usually expect to see the share price rise as a result. So it's worth looking at other metrics to try to understand the share price move.
在股價增長的五年中,BTG酒店(集團)從虧損轉爲盈利。我們通常預計股價會因此上漲。因此,值得研究其他指標來了解股價走勢。
The company has kept revenue pretty healthy over the last three years, so we doubt that explains the falling share price. We're not entirely sure why the share price is dropped, but it does seem likely investors have become less optimistic about the business.
在過去三年中,該公司一直保持相當健康的收入,因此我們懷疑這是股價下跌的原因。我們不完全確定股價下跌的原因,但投資者似乎對該業務不那麼樂觀了。
You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).
您可以在下圖中看到收入和收入隨時間推移而發生的變化(點擊圖表查看確切值)。

BTG Hotels (Group) is well known by investors, and plenty of clever analysts have tried to predict the future profit levels. So we recommend checking out this free report showing consensus forecasts
BTG酒店(集團)爲投資者所熟知,許多聰明的分析師都試圖預測未來的利潤水平。因此,我們建議您查看這份顯示共識預測的免費報告
A Different Perspective
不同的視角
We regret to report that BTG Hotels (Group) shareholders are down 39% for the year. Unfortunately, that's worse than the broader market decline of 16%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 4% over the last half decade. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. Is BTG Hotels (Group) cheap compared to other companies? These 3 valuation measures might help you decide.
我們遺憾地報告,BTG酒店(集團)的股東今年下跌了39%。不幸的是,這比整個市場16%的跌幅還要嚴重。話雖如此,在下跌的市場中,一些股票不可避免地會被超賣。關鍵是要密切關注基本發展。不幸的是,去年的表現可能預示着尚未解決的挑戰,因爲它比過去五年中4%的年化虧損還要糟糕。我們意識到羅斯柴爾德男爵曾說過,投資者應該 “在街頭流血時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。與其他公司相比,BTG酒店(集團)便宜嗎?這3種估值指標可能會幫助您做出決定。
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.
如果你想看看另一家公司——一家財務狀況可能優異的公司——那麼千萬不要錯過這份已經證明自己可以增加收益的公司的免費名單。
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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。