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Is The Market Rewarding Budweiser Brewing Company APAC Limited (HKG:1876) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?
Budweiser Brewing Company APAC (HKG:1876) has had a rough three months with its share price down 5.4%. We, however decided to study the company's financials to determine if they have got anything
Hong Kong stock market abnormality | Beer stocks rebounded in the morning, and the sector entered a low base from Q3, with multiple scenarios catalyzing on the demand side.
According to the Wisdom Finance APP, beer stocks rebounded in early trading. As of press time, China Resources Beer (00291) rose 3.61% to HKD 27.3; Tsingtao Brew (00168) rose 3.33% to HKD 49.7; and Bud APAC (01876) rose 0.73% to HKD 9.71. Founder Securities pointed out that due to the high base, weaker performance in dining, and the impact of rainy weather, we expect that beer industry Q2 sales volume will come under pressure, the trend of structural upgrading will continue, cost improvement has certainty, and overall profitability is stable. Looking forward to the whole year, we believe that starting from Q3, the entire sector will enter a low base, continuing the trend of structural upgrading.
Guotou Securities: Individual stock dividend yields highlight value, and the food and beverage sector enters the allocation range.
Zhìtōng Cáijīng APP learned that Guótóu Securities has released a research report stating that Maotai's batch pricing is gradually stabilizing, leading companies are expressing their stance, and individual stock dividend yields highlight value, the sector has entered the range of allocation.
Jianyin International: Maintains 'Neutral' Rating for Bud APAC (01876), Target Price lowered to HKD 9.2.
CICC International expects Bud APAC (01876) to see a 6% increase in revenue in the second half of fiscal year 2024.
Bank Rating | CICC International: Expects weak performance for Bud APAC in the next quarter, lowering target price to HKD 9.2.
China International Capital Corporation released a research report indicating that Budweiser APAC was affected by unfavorable weather, a high base, and weaker-than-expected consumer sentiment, so the bank lowered its forecast for revenue growth in the second quarter of the Asia Pacific West region to a decline of 4%, and also lowered its forecast for volume and price growth by 5% and 1%, respectively. The bank expects that sales of high-end and ultra-high-end categories in the group's western region will achieve low single-digit growth or remain flat in the second quarter. The bank also maintains its sales volume and price forecasts for the group in the Asia Pacific East region. China International Capital Corporation expects weak performance in the second quarter of the group. Although raw material costs have fallen, the bank predicts that the group's comprehensive gross margin for the second quarter will decline from 52.
Nomura: Maintains a "buy" rating for Bud APAC (01876), with a target price reduced to HK$14.1.
Zhixin Finance APP learned that Nomura released a research report stating that it has lowered the target price of Bud APAC (01876) from HKD 15.2 to HKD 14.1 while maintaining a 'buy' rating. The bank predicts that Bud APAC's performance in the second quarter of this year will be weak, with poor performance in the Chinese market due to bad weather and weak demand, resulting in a 7% decline in revenue and net profit in the second quarter. Strong performance in India and the Asia Pacific region offset some of the impact.
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