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COSCO SHP SG
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Sell with fair value S$1.03
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samsonite
Member |
02-Nov-2011 20:35
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Yap, almost all shipbuilders will likely be posting profit decline(except baker tech that just posted profit increase today). NOL even made a huge loss of 82 million yet its share prices still went up today. So the price plunge of late and downgrades would have factored in the expected profit decline. | ||
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Hawkeye
Veteran |
02-Nov-2011 19:14
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Result at this time considered satisfactory, only drop 42% profit, still expect dividend. Korean Shipyard profit drop about the same 42% (Daewoo and Samsung) Cosco China loss S325.0 million CSBC (Taiwan) drop 68% to NT$223.73mln Yang Ming loss $90million NOL loss $91million K Line loss $242 million
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ruanlai
Master |
02-Nov-2011 18:34
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Poor result again. Qtr to qtr for 2011 and 2010 net profit down by 42% Year to date for 2011 and 2010 net progit down by 35% Sell sell sell....... |
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dealer0168
Elite |
05-Nov-2009 12:05
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DBS Vickers Securities in a Nov 4 research report says: "Group sales dropped 24% y-o-y to $752 million due to lower offshore, ship-repair and shipping revenue. Key drags on results were low margins across shipping and shipyard operations, which led to the plunge in net profit by 80% y-o-y to $22 million. "Group net cash depleted rapidly from $1.2 billion as of end 2008 to a mere $0.3 billion currently. No recovery in sight till 2H2010. Uncertainties loom with execution risks and prospects of cuts in contract prices on existing orders. We cut our 2009 and 2010 earnings by 18% and 30% respectively to adjust for higher deferment/cancellations and lower margins for shipbuilding. Our target price is cut to 78 cents, (based on 15x its shiprepair/conversion earnings and 11x its shipbuilding/offshore earnings) following the earnings cut. Stock is expensive, trading at 20x FY10F, vs its peers. |
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Peg_li
Master |
05-Nov-2009 10:59
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Oh! sheet!sheet!sheet! a lump sum money lost(also including NOL) both two sheet counters! will enquire CEOs of these 2 company at coming meeting!get so high salary.but the share price falling like stone.are you really working? Sheet!sheet!sheet!sheet!sheet!sheet! |
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galantico
Member |
05-Nov-2009 10:54
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be greedy when others are fearful and be fearful when others are greedy... not vested yet but intend to enter when it hits 90c :) |
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ruanlai
Master |
05-Nov-2009 10:48
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OSPL - Technical Analysis - COSCO Corp (5 Nov 09)
CHARTVIEWS For 5th November 2009 COSCO Corp - Bearish break suggests further downside Levels to Watch in Trading: Support set at S$0.92 Resistance set at S$1.10 Stock Rating: No Rating Target Px: NA Last Closing Px: S$1.07 52-week Px Range: S$0.64 - S$1.47 SGX Code: F83 BLP Code: COS SP Equity |
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des_khor
Supreme |
05-Nov-2009 10:07
Yells: "Tell me who is the God or MFT from this forum??" |
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Gone case.... this Cosco many years back just trade below 0.20...... | ||
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JJSeng
Senior |
05-Nov-2009 09:21
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Will become a penny stock soon | ||
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ruanlai
Master |
05-Nov-2009 09:11
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ALL HOUSES ARE DUMPING ....... AVOID THIS FALLING KNIFE |
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phil1314
Senior |
04-Nov-2009 16:36
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UOBKayHian however states COSCO Corporation (S)
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ruanlai
Master |
04-Nov-2009 13:05
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Luckily dump at $1.11 yesterday for 500lots.....siao liao......all houses call for sell Cosco- 3Q09 review: Weak results; new-build margins unlikely to robound until 2H10 - UNDERWEIGHT ($1.10) TP $0.66 by JPM, SELL ($1.10) TP $1.05 by Citi, SELL ($1.10) TP $0.41 by DB, UNDERWEIGHT ($1.10) TP $1.00 by MS, REDUCE ($1.10) TP $0.70 by Nomura, UNDERPERFORM ($1.25) TP $0.51 by CS |
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ruanlai
Master |
04-Nov-2009 12:54
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This is worst by CIMB: Cosco - Steep valuations - UNDERPERFORM ($1.12) TP $0.67 by CIMB |
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ruanlai
Master |
04-Nov-2009 09:25
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Maintain Sell with fair value reduced from S$1.14 to S$1.03. We maintain our sell recommendation as Cosco continues to be affected by the slump in the shipping industry. Shipping companies are not placing new orders for ships and have been canceling and rescheduling their existing orders. Due to the negative outlook on Cosco, we cut our fair value from S$1.14 to S$1.03. This is a change from 2.2 to 2.1 times book value for FY2009F | ||
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