SGX Singapore Stocks & Forex Live Picks

Genting Singapore Shares Downs After Q1 Earnings Fall

Your Advisor
Publish date: Fri, 03 May 2013, 11:55 AM
Your Advisor
0 10,453
Blog for SGX Singapore Stock & Forex Recommendations gives you Live Stock Picks, we provide all SGX Stock Picks, Singapore Share Prices, Forex Trading Recommendation along with STI Quotes. Get Live SGX Singapore Picks.
Following Message
Shares of Genting Singapore PLC fell as much as 8.1 percent early on Friday after the casino operator reported a 35 percent drop in core earnings and flagged a cautious outlook due to muted economic growth in China.
The shares fell as low as S$1.48 after closing 4.9 percent higher on Thursday before the results were released. Genting Singapore was among the top traded stocks by value and volume on Friday morning.
Genting Singapore's January-March adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to S$249.7 million ($202.5 million) from S$381.4 million a year earlier. Five analysts polled by Reuters had on average expected a profit of S$359 million.
OCBC Investment Research pared its 2013 fiscal year revenue estimate by 10 percent and core earnings forecast by 16 percent. It downgraded Genting Singapore stock to "sell" from "hold" and cut its target price to S$1.41 from S$1.52, saying the recent run-up in the share price seems "slightly overdone".
But OCBC said it would turn into a buyer closer to S$1.30 or lower and that a longer-term catalyst could come from a potential casino licence in markets like Japan.
More articles on SGX Singapore Stocks & Forex Live Picks
Bursa Malaysia Stock Market May Come Under Pressure

Created by Your Advisor | Sep 23, 2017

Is another financial crisis just around the corner?

Created by Your Advisor | Sep 16, 2017

Rules for investing

Created by Your Advisor | Sep 06, 2017

Overview on PENTAMASTER CORPORATION LTD

Created by Your Advisor | Jul 06, 2017

Gold Is At Sweet Spot For Continued Buying On Dips

Created by Your Advisor | May 31, 2017

There's No Recession, but a Market Correction Could Cause One

Created by Your Advisor | May 10, 2017

TECH TARGETS: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

Created by Your Advisor | Mar 23, 2017

M Asia Trade Tech Targets: EUR/USD, AUD/USD, NZD/USD, USD/JPY - UOB

Created by Your Advisor | Mar 22, 2017

SEA market ready to rate hike ahead of Fed meeting

Created by Your Advisor | Mar 07, 2017

SGX & KLCI TRADING CALLs for Today

Created by Your Advisor | Feb 22, 2017

Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment