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Food Empire
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Food Empire: Good target for PE Fund/Delisting
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WBdisciple
Elite |
08-Feb-2021 21:35
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Food Empire a strong ' buy' for RHB on expectations of an exceptional FY2021 RHB&rsquo s small cap asean research team reckons that Food Empire is a steal. &ldquo At a market valuation of 10x FY21F P/E, Food Empire is one of the cheapest consumer staples stocks,&rdquo explains analyst Jarick Seet in a Feb 8 note. He believes the counter could even be a candidate for privatisation, given its undervalued position. By comparison, the food manufacturer&rsquo s peers are trading at 20 &ndash 30x P/E, says Seet who is maintaining a strong &lsquo buy&rsquo call on the counter but at a revised target price of $1.27. This is up 47 cents from his previous 80 cent call and is believed to be give a 44% upside from its 88 cent close on Feb 5. &ldquo The worst is over,&rdquo explains Seet. &ldquo Due to Covid-19 and mass distribution of vaccines, we expect demand for Food Empire&rsquo s products to grow,&rdquo he adds. This is unlike FY2020 when the food manufacturer&rsquo s sales had taken a hit for almost two months after strict lockdowns were imposed across the markets it operates in. However, Seet notes that the management has &ldquo learnt to solve these problems and does not expect such matters to be repeated&rdquo . While FY2020 revenue had inched down y-o-y across the markets, he observes that they have &ldquo improved robustly&rdquo on q-o-q basis, since 2QFY2020 ended June. Excluding foreign exchange costs, he says that the company would have recorded an impressive earnings growth of 87% q-o-q. Seet is anticipating resilient demand for Food Empire&rsquo s products in its last quartered ended in December as well as in FY2021. He is expecting its recurring PATMI (profit after taxes minus interest) to edge up by 10%, 20% and 5% between FY2020 to FY2022. Seet is also looking at the company maintaining its FY2020 final and special dividend per share of 2 cents, which will translate to an FY2020 yield of 2.6%. These estimates were arrived at after applying a discount to account for the fluctuation in the value of the Russian Rubble (RUB) which had increased at the end of November 2020. Seet believes this can benefit the group&rsquo s numbers, even though it can negate the effect by adjusting its selling prices. The way he sees it, the key risks to this is strict lockdowns causing operational disruptions and a sharp depreciation in the RUB and currencies of other countries it has operations in. |
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SmallSmall
Supreme |
08-Feb-2021 16:22
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Wow....day high $0.96.... Hopefully can see a $1.00 soon | ||||
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SmallSmall
Supreme |
08-Feb-2021 11:13
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RHB on Monday said it remains bullish on Food Empire Holdings and reiterated its " strong buy call" . The research team also raised its target price to S$1.27 from S$0.80, pegged to a higher price to earnings (P/E) ratio of 15 times for its FY2021 forecast. |
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tccroy
Elite |
04-Feb-2021 20:58
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Announcement soon
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WBdisciple
Elite |
03-Feb-2021 23:49
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Company responded: https://links.sgx.com/FileOpen/FEH%20Ann%20-%20Response%20to%20unusual%20trading%20activity.ashx?App=Announcement& FileID=647223 - The Company is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which might explain the trading today. - The Company is not aware of any possible explanation for the trading. |
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superstartup
Supreme |
03-Feb-2021 21:35
Yells: "Enjoy doing Fundamental Research" |
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If no news from company, maybe SGX RegCo will investigate who place the 500k Bid at 88 during closing. These days they siao on a bit (just ...... a bit more only).
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nea03177
Senior |
03-Feb-2021 17:13
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Kena SGX query. Wait for their response
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tccroy
Elite |
03-Feb-2021 17:11
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Tmr will close higher than $1
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jlong0005
Senior |
03-Feb-2021 17:09
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Fantastic move. Hope continue tomorrow to $1. | ||||
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SmallSmall
Supreme |
03-Feb-2021 16:56
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:) | ||||
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WBdisciple
Elite |
03-Feb-2021 16:54
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Food Empire is a good, thriving business as mentioned at the start of the thread...will not be surprised if they get a privatisation offer. |
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jlong0005
Senior |
03-Feb-2021 16:35
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U offer?
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WBdisciple
Elite |
03-Feb-2021 16:34
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Didnt see any announcement on the offer... pls do your own DD and not rely on hearsay... |
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Sgvale
Supreme |
03-Feb-2021 16:25
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Privatise offer $1 | ||||
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tccroy
Elite |
03-Feb-2021 16:17
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Time to go further up after eliminating week players | ||||
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WBdisciple
Elite |
03-Feb-2021 16:08
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Something brewing at FOOD EMPIRE? | ||||
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SmallSmall
Supreme |
03-Feb-2021 11:48
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https://www.nextinsight.net/story-archive-mainmenu-60/944-2021/13984-food-empire-time-for-re-rating-says-uobkh Target price by UOB KH $0.95
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SmallSmall
Supreme |
03-Feb-2021 11:47
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Breakout today....... | ||||
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WBdisciple
Elite |
22-Jan-2021 10:28
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Company continuing share buyback...just bought back 250,000 on 21 Jan 2021. | ||||
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superstartup
Supreme |
18-Jan-2021 14:30
Yells: "Enjoy doing Fundamental Research" |
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Exited here to focus on others. Thanks guys. |
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