You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
美银美林:下调中旅(0308.HK)目标价至2.3港元 评级“买入”
格隆汇 09-03 11:38

美银美林发表研究报告指,中旅(00308.HK)上半年净利润按年增11%至4.19亿元。旅游景区及相关收入分部及投资物业公平值的经调整估计非经常性收益,分别为9,300万元及4,000万元,经常性溢利为2.86亿元,较该行预期高21%。表现理想是因为珠海海泉湾项目及运输分部的入帐胜预期。而公司2018年度不派末期息后,其今次回复派发中期息每股3仙,意味着派息比率达39%。

该行从分析员会议上得悉,中旅管理层将会继续维持过往40%至60%的派息比率,即是至少有40%的水平。下半年珠海海泉湾及咸阳海泉湾将会推出楼盘预售,料可销售面积分别价值20亿至24亿元人民币及9亿至10亿元人民币;管理层正考虑新股权计划,该行相信在未来12个月内达成。

该行重申中旅评级“买入”,相信潜在楼盘推出及实施奖励计划是未来12个月的股份催化剂。同时,将其2019及2020年盈利预测分别调高21%及10%。惟目标价由2.6港元下调至2.3港元,以反映香港酒店及运输分部估值下跌。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account