Kemper (NYSE:KMPR) Shareholders Are Still up 47% Over 1 Year Despite Pulling Back 3.5% in the Past Week
Kemper (NYSE:KMPR) Shareholders Are Still up 47% Over 1 Year Despite Pulling Back 3.5% in the Past Week
Passive investing in index funds can generate returns that roughly match the overall market. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). For example, the Kemper Corporation (NYSE:KMPR) share price is up 44% in the last 1 year, clearly besting the market return of around 31% (not including dividends). If it can keep that out-performance up over the long term, investors will do very well! The longer term returns have not been as good, with the stock price only 27% higher than it was three years ago.
被动投资于指数基金可以产生大致匹配整体市场的回报。但通过选择表现优于平均水平的股票(作为多元化投资组合的一部分),可以取得更好的效果。例如,Kemper Corporation(纽交所股票代码:KMPR)过去一年股价上涨了44%,明显超越了市场约31%的回报(不包括分红派息)。如果它能在长期内保持这样的超额表现,投资者将获得丰厚收益!长期回报并不理想,三年前的股价仅上涨了27%。
Although Kemper has shed US$160m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
尽管Kemper本周从其市值中削减了16000万美元,但我们来看看其长期基本面趋势,看看这些趋势是否推动了回报。
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. 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.
在他的文章《Graham与Doddsville的超级投资者》中,沃伦·巴菲特描述了股价如何并不总是合理地反映一个业务的价值。一种不完美但简单的方法来考虑市场对公司的看法如何变化,就是比较每股收益(EPS)的变化与股价的变动。
Kemper went from making a loss to reporting a profit, in the last year.
Kemper在过去一年中从亏损转为盈利。
When a company has just transitioned to profitability, earnings per share growth is not always the best way to look at the share price action.
当一家公司刚刚过渡到盈利时,每股收益的增长并不总是观察股价变动的最佳方式。
We doubt the modest 1.8% dividend yield is doing much to support the share price. Unfortunately Kemper's fell 9.6% over twelve months. So the fundamental metrics don't provide an obvious explanation for the share price gain.
我们怀疑这个1.8%的分红派息收益率对股价的支持作用不大。不幸的是,Kemper的股价在12个月内下跌了9.6%。因此,基本指标没有提供一个明显的股价上涨解释。
The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).
下图显示了盈利和营业收入随着时间的变化情况(如果您点击图像,可以看到更详细的信息)。
We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. If you are thinking of buying or selling Kemper stock, you should check out this free report showing analyst profit forecasts.
我们喜欢在过去的12个月中内线买入股票的情况。不过,未来的收益对当前股东赚钱来说要重要得多。如果您考虑买入或卖出Kemper股票,您应该查看这份免费的报告,报告中显示了分析师的利润预测。
What About Dividends?
关于分红派息的问题
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. 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. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. We note that for Kemper the TSR over the last 1 year was 47%, which is better than the share price return mentioned above. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考虑投资回报时,考虑总股东回报(TSR)和股价回报之间的差异是很重要的。TSR是一个考虑现金分红价值的回报计算(假设任何收到的分红被再投资)以及任何折扣融资和分拆计算值的回报计算。可以说,TSR提供了一个股票所产生回报的更全面的视图。我们注意到,Kemper在过去一年內的TSR为47%,这比上面提到的股价回报要好。而且,毫无疑问,分红支付在很大程度上解释了这一差异!
A Different Perspective
不同的视角
We're pleased to report that Kemper shareholders have received a total shareholder return of 47% over one year. Of course, that includes the dividend. Notably the five-year annualised TSR loss of 0.2% per year compares very unfavourably with the recent share price performance. This makes us a little wary, but the business might have turned around its fortunes. 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. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Kemper you should know about.
我们高兴地报告,Kemper股东在一年内获得了47%的总股东回报。当然,这包括分红。值得注意的是,五年年化TSR损失为每年0.2%,与近期的股票价格表现相比非常不利。这让我们有些警惕,但业务可能已经扭转了局面。我发现从长远来看,观察股票价格作为业务表现的代理非常有趣。但要真正获得洞察,我们还需要考虑其他信息。例如风险。每家公司都有这些风险,而我们已经发现了1个Kemper的警示信号,你需要知道。
Kemper is not the only stock insiders are buying. So take a peek at this free list of small cap companies at attractive valuations which insiders have been buying.
Kemper并不是内部人士购买的唯一股票。所以请查看这个免费的吸引人估值的小盘公司名单,内部人士一直在购买。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文中引用的市场回报反映了当前在美国交易所上市股票的市场加权平均回报。
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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。
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