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Latest Forum Topics / ST Engineering    Last:10.59    -0.03  Post Reply
ST Engg
Maxgrow68
Elite
07-Oct-2022 13:04     
 
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Yells: "Right and Kind. Choose Kind then you are always Right !"
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 Alert Admin 		Hopeless, price keep falling!
Down 7c to 3.43 now! 
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investshare
Supreme
07-Oct-2022 12:39     
 
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 Alert Admin 		You can check their announcements on sgx portal.
I already received 2 quarters 4 cents already.

PhillipTan      ( Date: 07-Oct-2022 12:37) Posted:

Thanks for sharing, good to know
Maybe you could provide us the link also, that says 16c a year

I only know they used to give twice a year, interim and final
Then they changed to 4 times a year
Since they already gave 2 times, it would be similar to the interim of 5 cents that they use give for the first half years previously
That is how I got the 60% increase, from 5 cents to 8 cents without knowing the 16 cents story
 

investshare      ( Date: 07-Oct-2022 12:06) Posted:

ST management already said dividend fix at 16c per year.
The reason you see 60% is because instead of 2 payments, they change to 4c per quarter x 4.
If you just take that 60% to invest then good luck to you.


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PhillipTan
Supreme
07-Oct-2022 12:37     
 
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 Alert Admin 		Thanks for sharing, good to know
Maybe you could provide us the link also, that says 16c a year

I only know they used to give twice a year, interim and final
Then they changed to 4 times a year
Since they already gave 2 times, it would be similar to the interim of 5 cents that they use give for the first half years previously
That is how I got the 60% increase, from 5 cents to 8 cents without knowing the 16 cents story
 

investshare      ( Date: 07-Oct-2022 12:06) Posted:

ST management already said dividend fix at 16c per year.
The reason you see 60% is because instead of 2 payments, they change to 4c per quarter x 4.
If you just take that 60% to invest then good luck to you.


PhillipTan      ( Date: 07-Oct-2022 10:11) Posted:

Dividends had been fixed at 15 cents for several years
2022 is the first time they increased it
The interim dividend for 2022 is up 60% from 5 cents to 8 cents
So if the final year dividend for 2022 will also be up by 60% correspondingly, total expected divideds will become 24 cents
So accordingly to your expected 6% dividend, shouldn' t the share price then be $4.00? = Undervalued now?
 
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investshare
Supreme
07-Oct-2022 12:21     
 
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 Alert Admin 		18c eps, seem more downside rather than upside to current 16c dividend.

Lim has lowered her estimates for STE&rsquo s FY2023-2024 earnings per share (EPS) by 6.2-8 per cent, to an overall 18 per cent EPS growth for the same period.

Joelton      ( Date: 07-Oct-2022 09:53) Posted:

CGS-CIMB lowers ST Engineering target price on higher interest rates
 
CGS-CIMB has cut its target price on ST Engineering (STE) from S$4.53 to S$3.95 after the US Federal Reserve raised its key interest rate by 0.75 per cent on Sep 21, with further hikes expected in the near term.  
 
In a report on Wednesday (Oct 5), analyst Lim Siew Khee said she expects the defence and engineering group&rsquo s earnings through FY2023-2024 to be negatively impacted by the higher interest rates. 
 
After factoring in a higher risk-free rate and cost of debt numbers, the new blended target price implies that the group&rsquo s shares, at the current price of S$3.52, is trading at 18 times FY2023 price-to-earnings ratio &ndash 2 standard deviation points below the stock&rsquo s 6-year historical mean. 
 
Lim has lowered her estimates for STE&rsquo s FY2023-2024 earnings per share (EPS) by 6.2-8 per cent, to an overall 18 per cent EPS growth for the same period. 
 
This is because she foresees the company&rsquo s floating rate debt, the bulk of which comprises short-term commercial papers, will incur higher rollover risks due to the interest rate hikes. 
 
She also expects a higher weighted average interest rate in FY2023 for the company at 2.9 per cent (compared with 2.2 per cent as guided in H1 2022), as she believes the company will issue longer-term lower-yield bonds to refinance some of its commercial papers in FY2023.
 
&ldquo We expect the negative impact to be cushioned slightly by the treasury lock gains held in STE&rsquo s balance sheet reserves. Recall that STE recorded US$91 million in treasury lock gains in April 2022, with US$32 million expected to be used to reduce the yield on future bond issuances,&rdquo said Lim. 
 
The research house nevertheless continues to rate STE at &ldquo add&rdquo for the counter&rsquo s defensiveness, due to its record-high order book of S$23.6 billion, as well as its recent consolidation of US-based transportation technology firm TransCore. 
 
Lim also highlighted STE&rsquo s strong net gearing position this cycle. In the analyst&rsquo s view, the market has higher expectations for the group&rsquo s growth going forward as STE has typically outperformed the MSCI Singapore index by about 5 per cent over the past 10 years, and 9 per cent in the past 20. 

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investshare
Supreme
07-Oct-2022 12:06     
 
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 Alert Admin 		ST management already said dividend fix at 16c per year.
The reason you see 60% is because instead of 2 payments, they change to 4c per quarter x 4.
If you just take that 60% to invest then good luck to you.


PhillipTan      ( Date: 07-Oct-2022 10:11) Posted:

Dividends had been fixed at 15 cents for several years
2022 is the first time they increased it
The interim dividend for 2022 is up 60% from 5 cents to 8 cents
So if the final year dividend for 2022 will also be up by 60% correspondingly, total expected divideds will become 24 cents
So accordingly to your expected 6% dividend, shouldn' t the share price then be $4.00? = Undervalued now?
 

investshare      ( Date: 07-Oct-2022 09:31) Posted:

Another way is look at it.
Risk free put in bank is 3% interest.
So investors expect at least 6% dividend from this guy, so based on 16c dividend, share price should be 2.67?
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PhillipTan
Supreme
07-Oct-2022 10:11     
 
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 Alert Admin 		Dividends had been fixed at 15 cents for several years
2022 is the first time they increased it
The interim dividend for 2022 is up 60% from 5 cents to 8 cents
So if the final year dividend for 2022 will also be up by 60% correspondingly, total expected divideds will become 24 cents
So accordingly to your expected 6% dividend, shouldn' t the share price then be $4.00? = Undervalued now?
 

investshare      ( Date: 07-Oct-2022 09:31) Posted:

Another way is look at it.
Risk free put in bank is 3% interest.
So investors expect at least 6% dividend from this guy, so based on 16c dividend, share price should be 2.67?
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Joelton
Supreme
07-Oct-2022 09:53     
 
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 Alert Admin
CGS-CIMB lowers ST Engineering target price on higher interest rates
 
CGS-CIMB has cut its target price on ST Engineering (STE) from S$4.53 to S$3.95 after the US Federal Reserve raised its key interest rate by 0.75 per cent on Sep 21, with further hikes expected in the near term.  
 
In a report on Wednesday (Oct 5), analyst Lim Siew Khee said she expects the defence and engineering group&rsquo s earnings through FY2023-2024 to be negatively impacted by the higher interest rates. 
 
After factoring in a higher risk-free rate and cost of debt numbers, the new blended target price implies that the group&rsquo s shares, at the current price of S$3.52, is trading at 18 times FY2023 price-to-earnings ratio &ndash 2 standard deviation points below the stock&rsquo s 6-year historical mean. 
 
Lim has lowered her estimates for STE&rsquo s FY2023-2024 earnings per share (EPS) by 6.2-8 per cent, to an overall 18 per cent EPS growth for the same period. 
 
This is because she foresees the company&rsquo s floating rate debt, the bulk of which comprises short-term commercial papers, will incur higher rollover risks due to the interest rate hikes. 
 
She also expects a higher weighted average interest rate in FY2023 for the company at 2.9 per cent (compared with 2.2 per cent as guided in H1 2022), as she believes the company will issue longer-term lower-yield bonds to refinance some of its commercial papers in FY2023.
 
&ldquo We expect the negative impact to be cushioned slightly by the treasury lock gains held in STE&rsquo s balance sheet reserves. Recall that STE recorded US$91 million in treasury lock gains in April 2022, with US$32 million expected to be used to reduce the yield on future bond issuances,&rdquo said Lim. 
 
The research house nevertheless continues to rate STE at &ldquo add&rdquo for the counter&rsquo s defensiveness, due to its record-high order book of S$23.6 billion, as well as its recent consolidation of US-based transportation technology firm TransCore. 
 
Lim also highlighted STE&rsquo s strong net gearing position this cycle. In the analyst&rsquo s view, the market has higher expectations for the group&rsquo s growth going forward as STE has typically outperformed the MSCI Singapore index by about 5 per cent over the past 10 years, and 9 per cent in the past 20. 
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soeteono
Senior
07-Oct-2022 09:49     
 
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 Alert Admin 		Some suspect that big aquisition might not be that fantastic, over paid.
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Ling9345
Master
07-Oct-2022 09:45     
 
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 Alert Admin 		$3.4 is coming, drop like never end
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y2jchris
Veteran
07-Oct-2022 09:35     
 
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 Alert Admin 		is 3% the highest interest (all time)?

Seems to me, it might grow but not coming down any time soon?

2.67... that damn low

But to think.. dividie coming in another 6 months time.
 

investshare      ( Date: 07-Oct-2022 09:31) Posted:

Another way is look at it.
Risk free put in bank is 3% interest.
So investors expect at least 6% dividend from this guy, so based on 16c dividend, share price should be 2.67?
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investshare
Supreme
07-Oct-2022 09:31     
 
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 Alert Admin 		Another way is look at it.
Risk free put in bank is 3% interest.
So investors expect at least 6% dividend from this guy, so based on 16c dividend, share price should be 2.67?
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y2jchris
Veteran
07-Oct-2022 09:30     
 
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 Alert Admin 		exactly, i tot 3.65 to 3.7 well supported

But legit if below 3.. 

whack all in. 

their order book stonk but interest rate is wow. now

Adrianinsing      ( Date: 03-Oct-2022 16:37) Posted:

Where is the bottom ??

It looked well supported at $3.70

I would say $3.20 could be if we are to look at charts


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PhillipTan
Supreme
07-Oct-2022 09:24     
 
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 Alert Admin 		$1.76bn as at 31/12/21
Every 1% increase in interest rates will be an increase of around $17.6m in interest expense
With their stable PAT of easily more than half a billion, a 3% increase would reduce their PAT by around 10%
Still very profitable I think, not sure if the market over-reacted
 

JAD_Trader      ( Date: 07-Oct-2022 08:16) Posted:

Price hammered down cos of their debts. How bad is their debts?

MichaelSchenker      ( Date: 04-Oct-2022 17:24) Posted:

Although it close Up today, apparently the downward pressure is still there.

I am waiting for the turn.....patiently
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JAD_Trader
Veteran
07-Oct-2022 08:16     
 
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 Alert Admin 		Price hammered down cos of their debts. How bad is their debts?

MichaelSchenker      ( Date: 04-Oct-2022 17:24) Posted:

Although it close Up today, apparently the downward pressure is still there.

I am waiting for the turn.....patiently
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MichaelSchenker
Master
04-Oct-2022 17:24     
 
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 Alert Admin 		Although it close Up today, apparently the downward pressure is still there.

I am waiting for the turn.....patiently
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ruanlai
Elite
04-Oct-2022 11:01     
 
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 Alert Admin 		BB are selling down to test the low at 3.40 just stay sideline while elephants are fighting 
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Adrianinsing
Elite
03-Oct-2022 16:37     
 
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 Alert Admin 		Where is the bottom ??

It looked well supported at $3.70

I would say $3.20 could be if we are to look at charts

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PhillipTan
Supreme
03-Oct-2022 03:53     
 
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 Alert Admin 		HIgh gearing? Fears of recession?
Seems to be well supported at $3.50
Have a good backlog of orders more than 20 billion, revenue should be good and stable for years to come
No reason to fear the drop in price, could be a good time to pick up cheap
 

y2jchris      ( Date: 29-Sep-2022 22:15) Posted:

not gonna lie,

But i used to read on them and have a few friends working there.

Their diversity of business give them steady growth. 

No idea why the recent slide? But from 4 dropped to 3.5 its pretty 10+%.. very unusual? 
 

MichaelSchenker      ( Date: 29-Sep-2022 22:04) Posted:

I guess $4 is an easy target. It happened for the past many years, and fundamentally there is nothing wrong with the company. It has a very healthy order book, good & reliable customer base.

Just that the present outlook is not good at all, looks like more to slide. Hard to say 3.3 is the bottom. But I will just say, not to aim for the bottom ( nobody knows where), but instead watch for the upturn, especially with high volume, then it is the signal to enter.

Of course I agree it is easier said than done.

Good Luck All
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y2jchris
Veteran
29-Sep-2022 22:15     
 
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 Alert Admin 		not gonna lie,

But i used to read on them and have a few friends working there.

Their diversity of business give them steady growth. 

No idea why the recent slide? But from 4 dropped to 3.5 its pretty 10+%.. very unusual? 
 

MichaelSchenker      ( Date: 29-Sep-2022 22:04) Posted:

I guess $4 is an easy target. It happened for the past many years, and fundamentally there is nothing wrong with the company. It has a very healthy order book, good & reliable customer base.

Just that the present outlook is not good at all, looks like more to slide. Hard to say 3.3 is the bottom. But I will just say, not to aim for the bottom ( nobody knows where), but instead watch for the upturn, especially with high volume, then it is the signal to enter.

Of course I agree it is easier said than done.

Good Luck All!

y2jchris      ( Date: 29-Sep-2022 17:52) Posted:

did u expect this to reach 4.1 in jun?

But they have been solid during covid.

But i hope it drops below 3.3 thats the real good tim
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MichaelSchenker
Master
29-Sep-2022 22:04     
 
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 Alert Admin 		I guess $4 is an easy target. It happened for the past many years, and fundamentally there is nothing wrong with the company. It has a very healthy order book, good & reliable customer base.

Just that the present outlook is not good at all, looks like more to slide. Hard to say 3.3 is the bottom. But I will just say, not to aim for the bottom ( nobody knows where), but instead watch for the upturn, especially with high volume, then it is the signal to enter.

Of course I agree it is easier said than done.

Good Luck All!

y2jchris      ( Date: 29-Sep-2022 17:52) Posted:

did u expect this to reach 4.1 in jun?

But they have been solid during covid.

But i hope it drops below 3.3 thats the real good time

MichaelSchenker      ( Date: 29-Sep-2022 17:08) Posted:

I would go in if it show signs of a turn. Apparently it still look bearish now.

Perhaps if it goes up to 3.6+ level, I will add on. Otherwise, will just wait for the turn at a lower level
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