Swiber   

Swiber

All these analyst reports only serve to make you confused

Fishcake      ( Date: 15-Aug-2009 21:47) Posted: from OCBC :  Swiber Holdings Ltd (Swiber) reported a 11% YoY fall in revenue to US$110.8m and a 18.7% drop in net attributable profit to US$16.9m for 2Q09. Results were largely in line with expectations as 1H09 revenue and net profit account for 55% of our full-year estimates. Although gross margins were lower at 21.5% in 2Q09 compared to 26% in 2Q08, we are heartened to find that the group has regained margin stability ever since registering a loss in 4Q08 due to cost overruns. Though margins have stabilized, they are still lower than the traditionally higher margins that Swiber is used to but the group is exploring ways to enhance cost efficiencies. Swiber secured contracts totaling about US$93m in 2Q09, and its order book stands at US$509m compared to US$515m as at 31 Mar 09. We are putting our fair value estimate of S$0.62 and SELL rating under review pending an analysts’ briefing in the afternoon. (Low Pei Han)

 

somehow, just my gut feeling,  i feel that DBS and OCBC are putting a sell rating on swiber so that people can sell to them cheaply..

 

from OCBC :

 Swiber Holdings Ltd (Swiber) reported a 11% YoY fall in revenue to US$110.8m and a 18.7% drop in net attributable profit to US$16.9m for 2Q09. Results were largely in line with expectations as 1H09 revenue and net profit account for 55% of our full-year estimates. Although gross margins were lower at 21.5% in 2Q09 compared to 26% in 2Q08, we are heartened to find that the group has regained margin stability ever since registering a loss in 4Q08 due to cost overruns. Though margins have stabilized, they are still lower than the traditionally higher margins that Swiber is used to but the group is exploring ways to enhance cost efficiencies. Swiber secured contracts totaling about US$93m in 2Q09, and its order book stands at US$509m compared to US$515m as at 31 Mar 09. We are putting our fair value estimate of S$0.62 and SELL rating under review pending an analysts’ briefing in the afternoon. (Low Pei Han)

 

so confusing.

personally, first half 2009 seem to be the most difficult part of the year coz the oil price at earlier of the year is USD30+/barrel. But with oil now $70/barrel hopefully it will boost the spending of Oil and gas sector. i think second half of the year for this sector should be better than half hard of 2009 and second half of 2008.

long term this stocks should be good.

 

 

The disparity between analysis-it's either half empty or half full depending on your expectations and assumptions. Cheers!

Maintain SELL. We have upgraded our target price for Swiber to

S$0.73, after rolling forward to 7x blended FY09/10 PE and raising

recurring net profit estimates to US$31m (+3%) in FY09 and

US$42m (+24%) in FY10 on bigger order book. Maintain SELL on

Swiber.

 ANALYST: Wee Lee CHONG CFA +65 6398 7971 weelee@dbsvickers.com

 

Maintain Outperform and target price of S$1.71, still based on 12x CY10 P/E, in

line with its 3-year average trading band. Key catalysts for the stock could include

accelerated order wins and the timely delivery of new vessels.

Lim Siew Khee +(65) 6210 8664 – siewkhee.lim@cimb.com 

 

 

Reason for the selldown is bcos DBS issued a report on swiber..stating its a SELL!..

Target price 73c..

 

result worse than same Q last year. expect some pullback before rebounding.

 

 

swiber loss stream liao..guess have to wait for the next Q before it can break $1.07 mark

 

Let DJ......cheong cheong...and tom will be relief. Dont always roller coaster 

 

but according to anslysts they expects a slight drop in revenues n profits .....so is OK

dragonboy      ( Date: 13-Aug-2009 21:49) Posted: ezion results is good,  related socks will not be  affected too much.....can sleep in peace lah m0shii      ( Date: 13-Aug-2009 21:41) Posted: Not sure able to pass thru the $1.00 mark....tomorrow hope will still cheong....

 

ezion results is good,  related socks will not be  affected too much.....can sleep in peace lah

m0shii      ( Date: 13-Aug-2009 21:41) Posted: Not sure able to pass thru the $1.00 mark....tomorrow hope will still cheong....

 

Not sure able to pass thru the $1.00 mark....tomorrow hope will still cheong....

 

is only earnings drops, not a big loss......so not a big problem... it will follow the rallies thru but no range 

m0shii      ( Date: 13-Aug-2009 21:35) Posted: Will the not expected result of Swiber cause a fall on the counter tomorrow....starting to worry now

 

Will the not expected result of Swiber cause a fall on the counter tomorrow....starting to worry now

 

till date ezra, ezion n falcon  up coming to the main board  is still the best counter compare to the rest like asl, mermaid..........

btw this burger a yr ago was ard $2.70(jun 2008) n  $2.00 (aug 2008) ,.... now is below $1.00 dirt cheap lah,,,......not to worry

dragonboy      ( Date: 13-Aug-2009 21:19) Posted: profit down abit not dat bad,   still OK   solar2008      ( Date: 13-Aug-2009 20:06) Posted: Report is out. Results disappointing

 

profit down abit not dat bad,   still OK

 

solar2008      ( Date: 13-Aug-2009 20:06) Posted: Report is out. Results disappointing. solar2008      ( Date: 13-Aug-2009 18:56) Posted: By right the report should be out any minutes. Check sgx, most the results already ou

 

Report is out. Results disappointing.

solar2008      ( Date: 13-Aug-2009 18:56) Posted: By right the report should be out any minutes. Check sgx, most the results already out m0shii      ( Date: 13-Aug-2009 17:13) Posted: yeah...waiting to cross $1.00. What time report out. Hope Dow tonite be swee swee...then tom will up and up.

 

By right the report should be out any minutes. Check sgx, most the results already out

m0shii      ( Date: 13-Aug-2009 17:13) Posted: yeah...waiting to cross $1.00. What time report out. Hope Dow tonite be swee swee...then tom will up and up.

 

dow futures is up 81 pts.....a few of the related counters will flies....last fri  they dump n tomoro they snatch....haha! 

ericsim      ( Date: 13-Aug-2009 18:14) Posted: ya lor, if hv ezion result + tonite Dow up up, 2morrow hor say liao........HUAT AH......... dragonboy      ( Date: 13-Aug-2009 17:54) Posted: after reading ezion results...i now got more confident.....peng ann l

 

ya lor, if hv ezion result + tonite Dow up up, 2morrow hor say liao........HUAT AH.........

dragonboy      ( Date: 13-Aug-2009 17:54) Posted: after reading ezion results...i now got more confident.....peng ann la rpires      ( Date: 13-Aug-2009 17:51) Posted: the dow/nas/S&P futures is pending up. but the data release in housing foreclosure is increase might trip the indices back into the red.   i hope swiber can become swee ber.