SPH   

SPH

u have my support on the divvy part!! But px down, so may not materialise  assuming such news will inevitably get leaked out.

 

Hmm... today SPH releases its final yr results.. i guess it will be a good yr for SPH.. any comments?

I guess 1 more dividend from SPH to come in dec... heehee... hopefully got special divy.. haha.. *dreaming* haha..

 

market sentimient is good and if this friday results are above expectation as well, i think we can expect price to be >4.60...

 

I read that most analysts have a target of > $5 in 12mths time. I am vested and optimistic in its medium to long  term prospect. Let's wait for this elephant to move...In fact its moving now.

 

any target price in interim period, 3 mths?

 

1. Will the results be extraordinarily good?

2. Will there be special announcement in relation to investment in properties, etc, that would cause a good stir?

 

 

They will be releasing their results next Friday....

 

Hi ngchunleng ,

  It will cheong very soon. It Defended too long liao, other big banking and property stocks have cheonged liao. Cos for the past 2-3years have been quite dormant as it is branded as defensive stock, but some might not remember that it is a big big brother for media and advertising in their major papers and magazine. It has properties like Paragon. Although internet have taken their market share in advertising and e biz, they are rebounding.

 No matter what, the Net Margin is around 20% per year...

 Target price is about 5.4dollars and above. Might cheong to 6plus or even more...  Also good dividend and good shares buyback..

 

Thanks,

Happy

 

Hi ngchunleng ,

  It will cheong very soon. It Defended too long liao, other big banking and property stocks have cheonged liao. Cos for the past 2-3 have been quite dormant as it is branded as defensive stock, but some might not remember that it is a big big brother for media and advertising in their major papers and magazine. It has properties like Paragon. Although internet have taken their market share in advertising and e biz, they are rebounding.

 No matter what, the Net Margin is around 20% per year...

 Target price is about 5.4dollars and above. Might cheong to 6plus or even more...

 

Thanks,

Happy

 

 

The last time from 4.40 to 4.70 is a false rally. This time I not sure. what I do know is it will come...one day. Just hope that day is not too far away.

 

This stock is usually trading within the range from 4.20 to 4.60 although analyst target price is more than 5.00.  Can only look forward to getting good dividend. Cannot cheong one......

 

Full Year result releasing by next week. Anyone has a target price for this counter?

 

AFTER divi announcement, how abt swithching 2 other counters with also >5% dividend.

 

does not look too positive.. large volume and px gone down.. in fact it dipped to 4.30 intraday low.. *sigh* sigh*

 

It'd better announce good dividend or all its shareholder will start to flee... and no nasty low dividend annoucement like Robinson against its tradition, please!

 

Haha.. ya.. all run... except SPH... Really big fat white elephant!!.. haha..

Hopefully, the results for 3Q 07 is good, and declare high dividend......

 

agree with DnApeh...this is perhaps the only index stock that did not move since beginning of the year...it moved within a narrow range of 40c... DnApeh many others to add to your list: NOL run, property also run, shipping co also run etc etc... Except SPH... revaluation of Paragon did not happen... *sigh* 

 

SGX run...Singtel run....Banks run....

All the cheng hu counters already runneth.

Left only this bugger.

 

Brokers' Take

BUY: Kim Eng Research

Sep 18, 2007
The Business Times



Singapore Press Holdings
Sept 17 close: $4.38
KIM ENG RESEARCH, Sept 17

DIVIDEND play at a steal. SPH makes up for its low organic growth with its high cash flow generation and its track record of generous dividends. Further forays into property development could also produce more development profits for distribution as dividends. We thus reiterate our target price of $5.39 (implied FY08 dividend yield of 5.5 per cent).

Recent advertising revenue growth is unsustainable. SPH will be releasing its FY07 results in early-mid October. To recap, SPH delivered a sterling set of results in 3QFY07; newspaper advertising revenue grew more than 10 per cent year-on-year as Singapore's GDP grew 8.6 per cent. With display and classified advertisement revenues at their highest levels since the start of FY05, it is tempting to think that an era of high GDP growth would propel SPH's growth.

Weakening newsprint prices not catalyst for re-rating: In its Q3FY07 results announcement, SPH guided for newsprint prices to remain soft in the near term. This comes after four years of newsprint price increases from US$403/tonne in FY03 to US$581/tonne in FY06.

However, we think that even if newsprint prices decline, it will not significantly boost the operating margin of the Newspaper & Magazine segment. SPH's greatest cost component remains its staff costs and wages in Singapore are trending up.

Low organic growth impeding share price advancement: We estimate SPH's organic growth (excluding development profit from Sky@eleven) to be in the low-to-mid single digit range from FY08-FY10. We have assumed:

Print advertising revenue to increase 6 per cent per annum, pegged to Singapore's private consumption expenditure growth in 2Q07.

Rental income from Paragon to increase by 10 per cent per annum.

'Others' segment comprising outdoor advertising and Internet media to remain in a loss-incurring gestation period. We think that it is this unexciting organic growth rate that is impeding SPH's share price advancement.

More time is needed for new initiatives to bear fruit: Though SPH has been actively pursuing new growth initiatives in recent years in outdoor advertising and Internet media, these investments are small. Internet media, especially, will have to gain acceptance with the greater public. Currently, we remain unexcited about these new initiatives.

 

FY2006 results were released on 12 Oct 2006.  So far, there has not been any announcementfor the date of release of FY2007 results....but it should be around the same time of the month.

 

Ooops! Typo error...you mentioned 12 Oct 07?