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Goldman Sachs: Downgraded China Shenhua Energy's earnings forecast reflects weak Coal and coal-fired power prices, lowering the Target Price to HKD 29.5.
Goldman Sachs released a Research Report stating that China Shenhua Energy (01088) surpassed the bank and market expectations for last year's Net income, with a dividend of 2.26 RMB per share and a payout ratio of 72% calculated under international financial reporting standards, higher than the 70% in 2023. The bank lowered its profit forecasts for Shenhua for this year and next year by 5% to 7%, reflecting lower assumptions for Coal prices and weaker coal-electricity prices, partially offset by better-than-expected cost control. The bank expects strong operating Cash flow and a continuously strong balance sheet will support Shenhua in maintaining a 70% payout ratio, corresponding to a yield of 7.2 cents. The bank maintains a "Neutral" rating on Shenhua, with a target.
Goldman Sachs: Downgraded China Shenhua Energy (01088) earnings forecasts reflecting weak Coal and coal power prices, lowering the Target Price to HKD 29.5.
The bank lowered Shenhua's earnings forecast for the next two years by 5% to 7%, reflecting lower assumptions for Coal prices and weaker coal-to-electricity prices, partially offset by better-than-expected cost control.
Research Reports Gold Mining | SWHY: Maintain Buy rating on China Shenhua Energy, as high dividends establish the company's long-term investment value.
SWHY Research indicates that China Shenhua Energy (601088.SH) is expected to have a net income of 58.671 billion yuan for 2024, a year-on-year decrease of 1.71%; the basic EPS is 2.95 yuan. The net income for Q4 2024 is projected to be 12.597 billion yuan, a decrease of 23.98% compared to Q3 2024, but an increase of 10.26% year-on-year. The performance meets market expectations. Additionally, the company plans to distribute a cash dividend of 2.26 yuan per share (pre-tax) for 2024, totaling a dividend payout of 44.903 billion yuan (pre-tax), establishing a high dividend as a foundation for the company's long-term investment value. As of the end of 2024, the company actually holds cash and cash equivalents.
Goldman Sachs: China Shenhua Energy (01088) 2024 annual report performance exceeded expectations, maintaining a 'neutral' rating.
Goldman Sachs has lowered the profit expectations for China Shenhua Energy for 2025-2026 by 5-7%.
China Shenhua Energy Upgraded to Neutral From Sell at Goldman Sachs
China Shenhua Energy's Chairman Steps Down
