Singapore Stock Market News

ComfortDelGro - Defensive earnings

StockFanatic
Publish date: Fri, 17 May 2013, 03:49 PM
StockFanatic
0 10,452
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
In contrast to its peer SMRT's profit deterioration, ComfortDelGro turned in solid 1Q numbers characterised by mild revenue growth and stable margins. Management's reaffirmation of its 50% dividend payout ratio was music to our ears in light of SMRT's dividend cuts.

1Q13 net profit met expectations at 23% of our FY13 forecast and 22% of consensus. We keep our Neutral rating, EPS forecasts and target price (DCF, 7.3% WACC) unchanged. The stock lacks rerating catalysts, but is supported by a 3% dividend yield.
Read more »
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment