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Earnings Miss: Galaxy Entertainment Group Limited Missed EPS By 12% And Analysts Are Revising Their Forecasts

Earnings Miss: Galaxy Entertainment Group Limited Missed EPS By 12% And Analysts Are Revising Their Forecasts

收益不佳:銀河娛樂集團有限公司每股收益下降12%,分析師正在修改預測
Simply Wall St ·  04/13 07:14

The yearly results for Galaxy Entertainment Group Limited (HKG:27) were released last week, making it a good time to revisit its performance. It was not a great result overall. While revenues of HK$36b were in line with analyst predictions, earnings were less than expected, missing statutory estimates by 12% to hit HK$1.56 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

銀河娛樂集團有限公司(HKG: 27)的年度業績於上週公佈,是重溫其業績的好時機。總體而言,這不是一個好結果。儘管360億港元的收入與分析師的預測一致,但收益低於預期,比法定預期低12%,達到每股1.56港元。根據結果,分析師更新了他們的盈利模式,很高興知道他們是否認爲公司的前景發生了巨大變化,或者業務是否照舊。因此,我們收集了最新的業績後法定共識估計,以了解明年可能會發生什麼。

earnings-and-revenue-growth
SEHK:27 Earnings and Revenue Growth April 12th 2024
SEHK: 27 2024 年 4 月 12 日的收益和收入增長

Taking into account the latest results, the consensus forecast from Galaxy Entertainment Group's 15 analysts is for revenues of HK$46.0b in 2024. This reflects a substantial 29% improvement in revenue compared to the last 12 months. Per-share earnings are expected to soar 58% to HK$2.46. In the lead-up to this report, the analysts had been modelling revenues of HK$46.3b and earnings per share (EPS) of HK$2.49 in 2024. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

考慮到最新業績,銀河娛樂集團的15位分析師的共識預測是,2024年的收入爲460億港元。這反映了與過去12個月相比,收入大幅增長了29%。每股收益預計將飆升58%,至2.46港元。在本報告發布之前,分析師一直在模擬2024年的收入爲463億港元,每股收益(EPS)爲2.49港元。因此,很明顯,儘管分析師已經更新了估計,但在最新業績公佈後,對該業務的預期沒有重大變化。

The analysts reconfirmed their price target of HK$54.61, showing that the business is executing well and in line with expectations. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Galaxy Entertainment Group, with the most bullish analyst valuing it at HK$64.00 and the most bearish at HK$46.00 per share. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

分析師再次確認了54.61港元的目標股價,這表明該業務表現良好,符合預期。共識目標股價只是個別分析師目標的平均值,因此——可以很方便地看到基礎估計值的範圍有多廣。對銀河娛樂集團的看法有所不同,最看漲的分析師將其估值爲64.00港元,最看跌的爲每股46.00港元。這表明估值仍然存在一點差異,但分析師似乎對該股的看法並不完全分歧,好像這可能是成功或失敗一樣。

Another way we can view these estimates is in the context of the bigger picture, such as how the forecasts stack up against past performance, and whether forecasts are more or less bullish relative to other companies in the industry. For example, we noticed that Galaxy Entertainment Group's rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 29% growth to the end of 2024 on an annualised basis. That is well above its historical decline of 25% a year over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 13% per year. So it looks like Galaxy Entertainment Group is expected to grow faster than its competitors, at least for a while.

我們可以從大局的角度看待這些估計值的另一種方式,例如預測如何與過去的表現相提並論,以及預測相對於業內其他公司是否或多或少看漲。例如,我們注意到,銀河娛樂集團的增長率預計將大幅加快,預計到2024年底,按年計算,收入將實現29%的增長。這遠高於其在過去五年中每年25%的歷史下降幅度。相比之下,我們的數據表明,預計該行業的其他公司(有分析師報道)的收入每年將增長13%。因此,看來銀河娛樂集團的增長速度將超過其競爭對手,至少在一段時間內是如此。

The Bottom Line

底線

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at HK$54.61, with the latest estimates not enough to have an impact on their price targets.

要了解的最重要的一點是,市場情緒沒有重大變化,分析師再次確認該業務的表現符合他們先前的每股收益預期。幸運的是,他們還再次確認了收入數字,表明收入符合預期。此外,我們的數據表明,收入的增長速度預計將快於整個行業。共識目標股價穩定在54.61港元,最新估計不足以對其目標股價產生影響。

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Galaxy Entertainment Group analysts - going out to 2026, and you can see them free on our platform here.

根據這種思路,我們認爲該業務的長期前景比明年的收益重要得多。銀河娛樂集團的多位分析師估計,到2026年,你可以在我們的平台上免費看到這些數據。

You can also see our analysis of Galaxy Entertainment Group's Board and CEO remuneration and experience, and whether company insiders have been buying stock.

您還可以看到我們對銀河娛樂集團董事會和首席執行官薪酬和經驗的分析,以及公司內部人士是否一直在購買股票。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


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