Pulling Back 26% This Week, Orion's NYSE:OEC) Five-year Decline in Earnings May Be Coming Into Investors Focus
Pulling Back 26% This Week, Orion's NYSE:OEC) Five-year Decline in Earnings May Be Coming Into Investors Focus
It's been a soft week for Orion S.A. (NYSE:OEC) shares, which are down 26%. But the silver lining is the stock is up over five years. Unfortunately its return of 38% is below the market return of 95%.
Orion S.A.(NYSE:OEC)股票的表現不佳,本週下跌了26%。但好消息是,該股票的漲幅超過五年。不幸的是,其38%的回報低於市場回報的95%。
In light of the stock dropping 26% 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.
鑑於股票在過去一週下跌了26%,我們想調查更長期的情況,看看基本面是否是公司五年回報的驅動因素。
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. 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.
儘管一些人繼續教授有效市場假說,但已經證明市場是過度反應的動態系統,並且投資者並不總是理性的。通過比較每股收益(EPS)和股價的變化情況,我們可以了解投資者對公司的態度如何隨着時間變化而變化。
During five years of share price growth, Orion actually saw its EPS drop 1.2% per year.
在股價增長的五年中,Orion的每股收益實際上下降了1.2%每年。
By glancing at these numbers, we'd posit that the decline in earnings per share is not representative of how the business has changed over the years. 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.
通過觀察這些數據,我們可以得出結論:每股收益下降並不代表業務在過去幾年發生了變化。由於每股收益的變化似乎與股價的變化不相關,所以值得關注一些其他的指標。
We doubt the modest 0.5% dividend yield is attracting many buyers to the stock. In contrast revenue growth of 9.4% per year is probably viewed as evidence that Orion is growing, a real positive. It's quite possible that management are prioritizing revenue growth over EPS growth at the moment.
我們懷疑0.5%的股息收益率並不會吸引太多買家來購買這隻股票。相比之下,每年9.4%的營業收入增長可能是證明Orion正在增長的證據,這是一個真正的積極因素。很可能管理層目前正在優先考慮營收增長而非EPS增長。
You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).
您可以看到以下收益和營收的變化情況(通過單擊圖像了解精確值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240803/0-ed356787cd78fa525edc2cd5ca10eaef-0-df201b4ad2c17060e1c110b47289c985.png/big)
It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. This free report showing analyst forecasts should help you form a view on Orion
值得注意的是,在上個季度我們看到了重要的內部買入行爲,我們認爲這是一個積極的跡象。另一方面,我們認爲收入和收益趨勢更有意義,是衡量業務的主要指標。這份顯示分析師預測的免費報告應該可以幫助您形成對Orion的看法。
What About Dividends?
那麼分紅怎麼樣呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Orion's TSR for the last 5 years was 43%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
考慮到任何給定股票的總股東回報和股票回報同樣重要。股票回報僅反映了股票價格的變化,TSR包括股息的價值(假設它們已再投資)以及任何折價融資或分拆的好處。因此,對於支付豐厚股息的公司而言,TSR通常比股票回報高得多。碰巧,Orion過去5年的TSR爲43%,超過了前面提到的股票回報。這在很大程度上是其股息支付的結果!
A Different Perspective
不同的觀點
Investors in Orion had a tough year, with a total loss of 14% (including dividends), against a market gain of about 19%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 7% per year over half a decade. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It's always interesting to track share price performance over the longer term. But to understand Orion better, we need to consider many other factors. Take risks, for example - Orion has 2 warning signs we think you should be aware of.
Orion的投資者度過了艱難的一年,總損失達到14%(包括股息),而市場的收益約爲19%。即使好股票的股價有時會下跌,但我們希望在對某個公司的基本指標有所改善之前,先進行觀望。好消息是,長期股東賺了錢,在過去半個世紀裏每年賺了7%。如果基本數據繼續表明長期可持續增長,當前的拋售可能值得考慮。追蹤股價的長期表現總是有趣的。但要更好地了解Orion,我們需要考慮許多其他因素。例如,承擔風險 - 我們認爲您應該意識到Orion有2個警示信號。
Orion is not the only stock that insiders are buying. For those who like to find lesser know companies this free list of growing companies with recent insider purchasing, could be just the ticket.
Orion並不是內部人員買入的唯一股票。對於那些想要尋找較少知名公司的人,最近內部人員購買的增長公司的免費列表可能是正解。
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,本文所引述的市場回報反映了目前在美國交易所上市的股票的市場加權平均回報。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。