Singapore Stock Market News
SIA Engineering - Cash rich, long-term event-driven stock
StockFanatic
Publish date: Wed, 01 Aug 2018, 12:48 PM
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■ We lift FY19-20F EPS by 19-20% to factor in higher contributions from JV/associates as problematic Trent 1000 Rolls Royce engines continue to drive engine repair.
■ SIE is cash rich with net cash of c.S$500m (S$0.44/share); this should sustain a DPS of S$0.13-0.14, translating into a dividend yield of 4-5%.
■ With our EPS upgrade, our TP is raised to S$3.31, still based on DCF. At our TP, the stock would be trading at 21x CY19F P/E or -0.5 s.d. from mean. Read More
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