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We Think That There Are More Issues For Orient Overseas (International) (HKG:316) Than Just Sluggish Earnings
Major bank rating | JPMorgan: Industry forecasts show that future shipping demand will slow down in the coming months, lowering Orient Overseas target price to HK$166.
According to the industry forecast, the demand is expected to slow down in the coming months, but it is anticipated that freight rates in the fourth quarter will not have a significant adjustment. Looking ahead to 2025, the industry's supply and demand imbalance situation may improve.
Morgan Stanley: Reiterating a bullish stance on the shipping industry, no major adjustments expected in fourth-quarter freight rates.
Citi raised its earnings per share forecast for cosco shipping holdings and Orient Overseas International by 13.2% and 35% respectively for this year, and raised the forecast by 11.8% and 7.7% for next year.
OOIL: 2024 Interim Report
Spotlight | COSCO Shipping Holdings rises more than 4%, leading the shipping sector. Central banks of various countries cutting interest rates may boost international trade, multiple disturbances affecting the shipping supply side.
Shipping and ports stocks continued to rebound recently. As of the time of publication, Cosco Shipping Holdings rose by 4.58%, Sinotrans Limited rose by 4.27%, OOIL rose by 2.11%, and Sitc rose by 3.29%.
ooil [00316] is now trading at HK$93.45, a decrease of 5.61%.
As of 11:48, Oriental Overseas International [00316] reported a price of HKD 93.45, down HKD 5.55 or 5.61% from the previous closing price of HKD 99. The trading amount was HKD 81.0556 million. The highest price today was HKD 98.9, and the lowest price was HKD 93.3. Based on the closing price from yesterday, the 10-day average price is HKD 133.51, and the 50-day average price is HKD 112.09. The current P/E ratio is 8.48 times, and the 14-day strength index is 79.02.
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