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一文了解券商於中移動(00941.HK)公布業績後最新目標價及觀點
中移動(00941.HK)昨(10日)收市後公布截至今年6月底止中期業績後,今早股價造好,最新報66.05升近1.9%。中金表示,中移動上半年淨利潤762億人民幣按年升8.4%高預期,由於上半年公允價值變動損益增長較快,期內收入符預期。公司中期派息率62.5%,指引2023全年派息率提升至70%以上。該行認為公司資本開支放緩或將帶動折舊佔收比下降,有望為業績增長提供良好支撐,當前股息率具有較強的投資吸引力,重申「跑贏行業」評級及目標價110元。 中移動公布今年上半年純利761.73億元人民幣按年升8.4%,略高於本網綜合3間券商預測預測範圍742.19億至761億元人民幣的上限水平;每股盈利3.56元人民幣。集團擬派中期息每股2.43港元,較2022年中期派息2.2港元增長10.5%。中移動執行董事兼董事長楊杰表示,集團派息率持續增長,有信心今年全年派息比率達70%,惟未來會否有再上調空間,要視乎明年經濟及公司發展情況而定。 期內營業收入按年增長6.8%至5,307.2億人民幣。其中通信服務收入為4,522億人民幣,增長6.1%;數字化轉型收入達1,326億人民幣,增長19.6%,佔通信服務收入比重提升至29.3%。 【純利勝於預期 業務保持穩健】 瑞銀表示,中移動第二季服務收入、EBITDA、純利按年各升4.2%、5.9%及7.7%,指EBITDA及純利均勝市場預期,公司宣派每股中期息2.43元(按年升10.5%),派息比率達62.5%(對比2022年60%),料業績影響正面,因在不明朗的宏觀環境下仍優於投資者預期,重申「買入」評級及目標價89元。 富瑞下調中移動目標價由81.12元降至79.69元,維持「買入」評級。華泰證券則表示,中移動上半年收入利潤穩步增長,擬提升2023全年派息率至70%以上,指旗下移動業務ARPU保持穩健,移動雲及大數據業務延續高增長態勢。該行料公司盈利有望持續增長,維持「買入」評級, 對應目標價78.73元。 ---------------------------------------- 下表列出9間券商對中移動投資評級及目標價: 券商│投資評級│目標價(港元) 中金│跑贏行業│110元 瑞銀│買入│89元 中銀國際│買入│83元 富瑞│買入│81.12元->79.69元 華泰證券│買入│78.73元 野村│買入│77元 里昂│買入│75元 摩根士丹利│增持│75元 摩根大通│增持│75元 券商│觀點 中金│移動雲收入超預期,自由現金流表現亮眼 瑞銀│成本控制得宜,次季EBITDA和盈利增長勝預期 中銀國際│現金流持續改善 富瑞│次季盈利增長勝預期 華泰證券│上半年ARPU保持穩健,雲業務延續高增長態勢 野村│現金流維持強勁 里昂│中期純利勝預期,股息回報7.6厘 摩根士丹利│第二季業績可觀因雲收入增長強勁和利潤率擴張 摩根大通│雲業務增長放緩程度較同業低
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