FirstEnergy (NYSE:FE) Shareholders Have Endured a 1.6% Loss From Investing in the Stock Five Years Ago
FirstEnergy (NYSE:FE) Shareholders Have Endured a 1.6% Loss From Investing in the Stock Five Years Ago
In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market index fund. But in any portfolio, there will be mixed results between individual stocks. At this point some shareholders may be questioning their investment in FirstEnergy Corp. (NYSE:FE), since the last five years saw the share price fall 20%.
爲了能夠證明選擇個別股票的努力是值得的,努力擊敗市場指數基金的回報是非常重要的。但是在任何投資組合中,個別股票的表現會有好有壞。目前,一些股東可能在質疑對第一能源公司(紐交所:FE)的投資,因爲過去五年其股價下跌了20%。
So let's have a look and see if the longer term performance of the company has been in line with the underlying business' progress.
所以讓我們看看公司的長期表現是否與其基本業務的發展相符。
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 way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).
在他的文章《Graham與Doddsville的超級投資者》中,禾倫·巴菲特描述了股價並不總是理性地反映業務的價值。檢查市場情緒隨時間變化的一種方法是觀察公司的股價與每股收益(EPS)之間的互動。
Looking back five years, both FirstEnergy's share price and EPS declined; the latter at a rate of 7.4% per year. The share price decline of 4% per year isn't as bad as the EPS decline. The relatively muted share price reaction might be because the market expects the business to turn around.
回顧五年前,第一能源公司的股價和每股收益都在下降;後者的下降速度爲每年7.4%。每年4%的股價下降並不像每股收益的下降那麼嚴重。股價反應相對平淡可能是因爲市場預計該業務會扭轉局面。
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
公司的每股收益(隨時間)如下圖所示(點擊查看確切數字)。
We know that FirstEnergy has improved its bottom line lately, but is it going to grow revenue? You could check out this free report showing analyst revenue forecasts.
我們知道第一能源最近改善了其底線,但它的營業收入會增長嗎?你可以查看這個免費的報告,顯示分析師的營業收入預測。
What About Dividends?
關於分紅派息的問題
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. In the case of FirstEnergy, it has a TSR of -1.6% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
除了衡量股價回報,投資者還應考慮總股東回報(TSR)。TSR 是一種回報計算,考慮了現金分紅的價值(假設任何收到的分紅都被再投資)以及任何折扣資本籌集和分拆的計算價值。因此,對於那些支付豐厚分紅的公司來說,TSR 通常遠高於股價回報。在第一能源的情況下,過去5年它的TSR爲-1.6%。這超過了我們之前提到的股價回報。這在很大程度上是其分紅支付的結果!
A Different Perspective
不同的視角
FirstEnergy shareholders gained a total return of 6.5% during the year. But that return falls short of the market. But at least that's still a gain! Over five years the TSR has been a reduction of 0.3% per year, over five years. It could well be that the business is stabilizing. It's always interesting to track share price performance over the longer term. But to understand FirstEnergy better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 2 warning signs with FirstEnergy , and understanding them should be part of your investment process.
第一能源的股東在一年內獲得了總回報6.5%。但這個回報未能趕上市場表現。不過,至少這仍然是一個收益!在過去五年中,TSR每年減少0.3%。可能表明業務正在穩定發展。長期跟蹤股價表現總是令人感興趣的。但要更好地理解第一能源,我們需要考慮許多其他因素。例如,投資風險的永恒陰影。我們已經識別出第一能源的兩個警示信號,理解這些信號應該是您投資過程的一部分。
Of course FirstEnergy may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然,第一能源可能不是最適合買入的股票。因此,你可能想看看這個免費的成長股票集合。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
請注意,本文中引用的市場回報反映了當前在美國交易所上市股票的市場加權平均回報。
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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.
對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價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沒有持倉。
譯文內容由第三人軟體翻譯。
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