Shareholders in Hutchison Port Holdings Trust (SGX:NS8U) Have Lost 14%, as Stock Drops 5.2% This Past Week
Shareholders in Hutchison Port Holdings Trust (SGX:NS8U) Have Lost 14%, as Stock Drops 5.2% This Past Week
During five years of share price growth, Hutchison Port Holdings Trust moved from a loss to profitability. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics may better explain the share price move. For many, the main point of investing is to generate higher returns than the overall market. But even the best stock picker will only win with some selections. At this point some shareholders may be questioning their investment in Hutchison Port Holdings Trust (SGX:NS8U), since the last five years saw the share price fall 44%. And we doubt long term believers are the only worried holders, since the stock price has declined 35% over the last twelve months. On top of that, the share price is down 5.2% in the last week.
對很多人來說，投資的主要目的是超過整個市場的回報。但即使是最好的股票選擇者也只能贏得部分，這時有些股東可能會對他們在新加坡交易所股票NS8U的投資產生疑問，因爲過去五年該股股價下跌了44%。我們懷疑即使是長期信仰者也不是唯一擔心的持有者，因爲該股股價在過去12個月內下跌了35%。此外，其股價在上週下跌了5.2%。
Given the past week has been tough on shareholders, let's investigate the fundamentals and see what we can learn.
考慮到過去一週對股東來說是艱難的，讓我們調查一下基本面並看看我們能學到什麼。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
不可否認的是，市場有時是高效的，但價格並不總是反映潛在的商業表現。一個不完美但簡單的方法來考慮公司市場感知如何改變是比較每股收益（EPS）變化和股價變動。
During five years of share price growth, Hutchison Port Holdings Trust moved from a loss to profitability. That would generally be considered a positive, so we are surprised to see the share price is down. Other metrics may better explain the share price move.
在股價增長的五年期間，新加坡交易所股票NS8U既出現了虧損，也轉虧爲盈，這通常被認爲是一個積極的因素，因此我們對股價下跌感到驚訝。其他指標可能更好地解釋了股票價格的變動。
We note that the dividend has fallen in the last five years, so that may have contributed to the share price decline.
我們注意到在過去五年中分紅有所下降，因此這可能對股價下跌有所貢獻。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下圖顯示了收益和營收隨時間變化的情況（如果你點擊圖像，可以看到更多細節）：
This free interactive report on Hutchison Port Holdings Trust's balance sheet strength is a great place to start, if you want to investigate the stock further.
如果您想進一步調查這隻股票，可以從Hutchison Port Holdings Trust資產負債表實力的免費互動報告開始。
What About Dividends?
那麼分紅怎麼樣呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Hutchison Port Holdings Trust's TSR for the last 5 years was -14%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
除了衡量股價回報外，投資者還應考慮總股東回報(TSR)。TSR是一個考慮到現金股利價值(假設收到的任何股利都被再投資)和任何折價資本增發和分拆計算價值的回報計算。所以對於支付慷慨股息的公司，TSR往往比股價回報高得多。碰巧的是，Hutchison Port Holdings Trust過去5年的TSR爲-14%，超過了前面提到的股價回報。這主要是由於其支付的股息！
A Different Perspective
不同的觀點
Investors in Hutchison Port Holdings Trust had a tough year, with a total loss of 27% (including dividends), against a market gain of about 6.1%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 3% per year over five years. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should learn about the 3 warning signs we've spotted with Hutchison Port Holdings Trust (including 1 which can't be ignored) .
Hutchison Port Holdings Trust的投資者經歷了一個艱難的一年，股息總虧損率達27%，而市場收益率大約爲6.1%。但是請記住，即使是最好的股票有時在十二個月的時間內也會表現不佳。遺憾的是，去年的表現爲該公司的股東帶來了全年虧損3%。一般來說，長期的股價疲軟可能是一個不好的跡象，但採取反向投資的投資者可能希望研究這隻股票以希望實現逆轉。作爲業務表現的代理，我認爲長期股價非常有趣。但爲了獲得真正的見解，我們還需要考慮其他信息。爲此，您應該學習我們發現的有關Hutchison Port Holdings Trust的3個警告信號(其中1個不能忽略)。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一樣，就不會希望錯過這份免費的內部人士正在購買的低估小市值股票列表。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges.
請注意，本文中引用的市場回報反映了當前在新加坡交易所上市股票的市場加權平均回報。
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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。