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funny when oil price up smrt still able to cheong....i think if after dividen ( CD ) i believe it will fall .
zhuge_liang ( Date: 25-Jun-2008 01:09) Posted:
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Citigroup upgrades SMRT to Hold from Sell, raises target price to $1.88 from $1.48 after increasing earnings forecasts to reflect higher rail ridership growth, assumptions of improved revenue from advertising and rental businesses. Says full operation of Circle Line MRT from 2010 can be earnings accretive "almost from the start" due to higher demand, benefits of economies of scale. But notes high energy costs will pose near-term risk.
guess who loaded more of this bugger??
starts with T...ends with K... no prizes for guessing..
time to load ...!!
It has crossed US$123/bbl
someone in the oil producing country already said that oil will be US$250/bbl
Come the US or worst still global recession if any, this will be the safest stock to bet and hold....unless oil shoot up to US$200/b???
The time has come. $1.84 - $1.85 resistance broken. Now at $1.87. Eh, I think there was a married deal of 241 lots at $1.869
Anyone saw that 225 lots buy up at $1.85? Recent resistance of $1.84 seems to have been broken. Looks like more upside coming.
sorry, repeated post
SMRT Corporation
April 30 close: S$1.80
DBS Group Research, April 30
FULL-YEAR earnings came in slightly ahead of our expectations, up 11 per cent y-o-y to $150 million, as revenue grew by 8 per cent y-o-y to $800 million, driven primarily by ridership growth on its MRT trains. Ebit grew 23 per cent y-o-y, led by the MRT segment (up 25 per cent y-o-y), rental and ads (up 22 per cent y-o-y), and a turnaround from a loss of $5.1 million for the taxi segment to a profit of $0.6 million.
A final net dividend per share (DPS) of six cents was declared, bringing total DPS for FY2008 to 7.75 cents, above our 7.5 cents forecast.
SMRT continues to impress with effective cost management and with strong ridership growth, the group's profitability has scaled well, with Ebit margin expanding from 15 per cent five years ago to over 22 per cent currently.
Looking ahead, we expect earnings growth to slow down as it comes from a higher base and as the group faces higher cost pressures, as well as likely start-up costs for the new Circle Line (Stage 3 is targeted to open in mid-2009). Nonetheless, we expect ridership growth and increasing rental income to continue to underpin steady earnings growth.
With a formal policy of aiming to maintain or improve the absolute amount of dividends each year, and given SMRT's generous track record, we are optimistic that shareholders can look forward to growing dividends as the group continues to grow. We raise our DPS forecasts to 8.5 cents and nine cents for FY2009 and FY2010 respectively. As such, we raise our TP to $2 (targeting 4.5 per cent net yield for FY2010) and upgrade the stock to a 'buy'.
Furthermore, SMRT has highlighted the possibility of giving a special dividend, which we believe has a high likelihood as we project that the group will move into a net cash position this year. We estimate that SMRT can pay another 10-15 cents in special dividends with internal funds, without crossing the 0.5 times net debt-to-equity mark.
BUY
Glossary
A very public debate raged some 2 years ago abt the fare mechanism. The Public Trasport Council has got this issue sorted out in a very transparent formula. Read the PTC's website.
cyjjerry85 ( Date: 02-May-2008 10:56) Posted:
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SMRT Corporation Limited
HOLD
Previous call: HOLD at S$1.63 on
FY08 Results.
profit of S$149.9m (+10.4% yoy). The growth in revenue was due to higher ridership,
and growth from rental and advertising. This mitigated the increase in GST, CPF
contribution and energy costs. Performances by various businesses.
all its operations. There was strong growth in MRT (+8.0% yoy), LRT (+6.6% yoy)
and taxi (+10.8% yoy) operations while the buses operation posted minor growth in
revenue (+2.9% yoy). The increase in average daily ridership resulted in the growth
in revenues from the train and buses operations while the higher average hired-out
fleet caused the growth in taxi operations.
Furthermore, SMRT also saw strong growth in revenues from rental (+21.8% yoy),
advertising (+16.7% yoy) as well as engineering and other services (+13.2% yoy). FY09 Outlook.
FY09. However, operating expenses are also likely to rise. It also mentioned the
increase of staff in preparation for the opening of Circle Line Stage 3. Maintain HOLD recommendation, target price raised from S$1.70 to S$1.74. SMRT has posted good financial results. Moreover, it continues to register increases
in revenues and profits. Therefore, the fair value is raised to S$1.74 based on our
discounted cash flow model. This is a defensive stock for investors who would like to
29 January 2008.
hold for payment of dividends.
yea...they got more reasons to increase the fare price already lo...the only thing is the public will argue back strongly on the inflation..so near term wise...shld not have any fare hikes
AK_Francis ( Date: 01-May-2008 21:01) Posted:
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DBS' target price for SMRT is S$2...but if 2.10 will be great
yongliang168 ( Date: 30-Apr-2008 21:02) Posted:
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Ayoh, it bought 5 stars new buses leh, for saving the world. Minister seems giving nod for fare increase leh. 10 down ah, buoy hoo leow. Its a slow moving stock, just like SingTel, buoy see one.
Tomorrow below $1.70.....and I will be interested.
Its a potentail stock for long term investment, though fuel still an issue.
SMRT Corporation
April 30 close: S$1.80
DBS Group Research, April 30
FULL-YEAR earnings came in slightly ahead of our expectations, up 11 per cent y-o-y to $150 million, as revenue grew by 8 per cent y-o-y to $800 million, driven primarily by ridership growth on its MRT trains. Ebit grew 23 per cent y-o-y, led by the MRT segment (up 25 per cent y-o-y), rental and ads (up 22 per cent y-o-y), and a turnaround from a loss of $5.1 million for the taxi segment to a profit of $0.6 million.
A final net dividend per share (DPS) of six cents was declared, bringing total DPS for FY2008 to 7.75 cents, above our 7.5 cents forecast.
SMRT continues to impress with effective cost management and with strong ridership growth, the group's profitability has scaled well, with Ebit margin expanding from 15 per cent five years ago to over 22 per cent currently.
Looking ahead, we expect earnings growth to slow down as it comes from a higher base and as the group faces higher cost pressures, as well as likely start-up costs for the new Circle Line (Stage 3 is targeted to open in mid-2009). Nonetheless, we expect ridership growth and increasing rental income to continue to underpin steady earnings growth.
With a formal policy of aiming to maintain or improve the absolute amount of dividends each year, and given SMRT's generous track record, we are optimistic that shareholders can look forward to growing dividends as the group continues to grow. We raise our DPS forecasts to 8.5 cents and nine cents for FY2009 and FY2010 respectively. As such, we raise our TP to $2 (targeting 4.5 per cent net yield for FY2010) and upgrade the stock to a 'buy'.
Furthermore, SMRT has highlighted the possibility of giving a special dividend, which we believe has a high likelihood as we project that the group will move into a net cash position this year. We estimate that SMRT can pay another 10-15 cents in special dividends with internal funds, without crossing the 0.5 times net debt-to-equity mark.
BUY
Ah yoh, crude oil coming down, SMRT price hike?? SMRT up 4 cts, despite profits fell last Qtr. Sound like ins.....r trading leh?? Konfused ah.
dont forget about the rental
and they will increase the price sooner or later.
target SMRT - $2.10