Positive Earnings Growth Hasn't Been Enough to Get ShanDongDenghai SeedsLtd (SZSE:002041) Shareholders a Favorable Return Over the Last Three Years
Positive Earnings Growth Hasn't Been Enough to Get ShanDongDenghai SeedsLtd (SZSE:002041) Shareholders a Favorable Return Over the Last Three Years
While not a mind-blowing move, it is good to see that the ShanDongDenghai Seeds Co.,Ltd (SZSE:002041) share price has gained 17% in the last three months. But that doesn't change the fact that the returns over the last three years have been disappointing. Tragically, the share price declined 56% in that time. So the improvement may be a real relief to some. After all, could be that the fall was overdone.
雖然沒有令人驚訝的舉動,但值得一提的是,山東登海種業股份有限公司(SZSE:002041)的股價在過去三個月裏上漲了17%。但這並不能改變過去三年的回報令人失望的事實。可悲的是,股價在那段時間下跌了56%。因此,這種改善對某些人來說可能是真正的解脫。畢竟,這種下跌可能是過火了。
The recent uptick of 4.9% could be a positive sign of things to come, so let's take a look at historical fundamentals.
最近的4.9%上漲可能預示着未來的一些積極跡象,因此讓我們來看一下歷史基本面數據。
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 flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
在他的文章《格雷厄姆-多德斯維爾的超級投資人》中,禾倫·巴菲特描述了股票價格並不總是理性地反映公司價值的情況。一種有缺陷但合理的評估公司情緒如何變化的方法是將每股收益(EPS)與股票價格進行比較。
During the unfortunate three years of share price decline, ShanDongDenghai SeedsLtd actually saw its earnings per share (EPS) improve by 16% per year. This is quite a puzzle, and suggests there might be something temporarily buoying the share price. Alternatively, growth expectations may have been unreasonable in the past.
在股價下跌的不幸三年期間,山東登海種業股份有限公司的每股收益(EPS)實際上每年提高了16%。這是一個相當困惑的情況,暗示着可能有一些暫時支撐股價的因素。或者,過去的增長預期可能是不合理的。
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.
由於EPS的變化似乎與股價的變化不相關,因此值得查看其他指標。
The modest 0.4% dividend yield is unlikely to be guiding the market view of the stock. We note that, in three years, revenue has actually grown at a 15% annual rate, so that doesn't seem to be a reason to sell shares. It's probably worth investigating ShanDongDenghai SeedsLtd further; while we may be missing something on this analysis, there might also be an opportunity.
這家股票的0.4%分紅派息率不太可能影響市場對這隻股票的看法。我們注意到,在過去三年裏,營業收入實際上以15%的年度增長率增長,所以這似乎不是賣出股票的理由。進一步調查登海種業的價值可能很值得,雖然我們在這項分析中可能有所遺漏,但也可能存在機會。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
以下圖像顯示了公司的營業收入和盈利(隨時間變化)(單擊以查看準確的數字)。
We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. It's always worth keeping an eye on CEO pay, but a more important question is whether the company will grow earnings throughout the years. You can see what analysts are predicting for ShanDongDenghai SeedsLtd in this interactive graph of future profit estimates.
我們很高興地報告說,與資本相似的公司的大多數首席執行官相比,該公司的CEO的報酬更爲適中。CEO的薪酬始終值得關注,但更重要的問題是公司是否會在未來多年實現盈利增長。您可以查看ShanDongDenghai SeedsLtd未來利潤預測的交互式圖表,了解分析師的預測。
A Different Perspective
不同的觀點
ShanDongDenghai SeedsLtd shareholders are down 37% for the year (even including dividends), but the market itself is up 7.4%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 4%, each year, over five years. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. 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. For example, we've discovered 1 warning sign for ShanDongDenghai SeedsLtd that you should be aware of before investing here.
登海種業的股東今年已經虧損37%(甚至包括分紅),但市場本身上漲了7.4%。然而,請記住,即使是最好的股票有時也會在十二個月的時間段內表現不佳。從長期來看,投資者不會那麼沮喪,因爲他們在過去五年裏每年都能賺取4%。最近的拋售可能是個機會,因此可能值得查看基本數據,尋找長期增長趨勢的跡象。考慮到市場狀況可能對股價產生的不同影響是值得的,還有其他更爲重要的因素。舉例來說,我們已經發現了登海種業的1個警示信號,您在此投資之前應該意識到這一點。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
當然,您可能在其他地方找到一家出色的企業進行投資。因此,請查看我們預計將實現盈利增長的公司的免費列表。
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上市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。