Post Reply
181-200 of 794
So, once 1 for 1 bonus is issued , price will become halved? BBs pushing up to $2.40, become $1.20 after bonus issued, and sell it down to $0.80-$1.00 🤔
Is $2.03 now
I am looking at APAC, it has not really move much yet.
After crossing $1.90 or $1.91, this fella starts to puncture already. So, if you ask me, $2 is going to be very challenging.
I reckon $1.95 to be the strong resistance level.
I reckon $1.95 to be the strong resistance level.
TradeExpert ( Date: 23-Mar-2023 08:58) Posted:
|
$2? Soon....
PropNex
Price targets:
CGS-CIMB Research ' add' $2.05
Maybank Securities ' buy' $2.20
DBS Group Research ' hold' $1.88
Mixed sentiments for property group
Analysts from CGS-CIMB Research, Maybank Securities and DBS Group Research have increased their target price for PropNex to $2.05, $2.20 and $1.88, respectively, up from $1.93, $1.95 and $1.61 previously. CGS-CIMB' s Lock Mun Yee and Maybank' s Eric Ong have maintained their " add" and " buy" calls, while DBS' s Ling Lee Keng maintains her " hold" recommendation.
PropNex' s revenue improved by 7.5% y-o-y to $1.03 billion for the full year, while its PATMI was 3.9% higher to $62.4 million. The group proposed a final dividend per share (DPS) of 8 cents, bringing full-year DPS to 13.5 cents. CGS-CIMB' s Lock says the company' s agency services benefitted from an improvement in market share.
She has raised her FY2023 to FY2024 net profit estimates by 19% to 22.2% to factor in the stronger launch pipeline and the &ldquo robust market share&rdquo of PropNex, which trades at a cash-adjusted FY2023 P/E of 8.3 times. Her target price has been raised to $2.05 from $1.93 on a blend of the net cash-adjusted price-toearnings ratio (P/E) and discounted cash flow (DCF) valuation.
In 2022, the transaction volume of the private resale market fell 30% y-o-y while HDB resale activity shrank 10% y-o-y. Despite higher mortgage rates and the impact of the recently announced hike in buyers' stamp duty, Lock says PropNex expects HDB and private resale market volumes to remain stable going into 2023.
She adds that FY2022 commissions from project marketing services declined 12% y-o-y to $383.7 million due to fewer project launches. As a result, transaction volumes contracted 45.5% y-o-y to 7,099 units due to the impact of the property cooling measures announced in December 2021 and dwindling unsold inventory.
However, Maybank&rsquo s Ong sees transaction volumes rebounding in FY2023, with PropNex seeing an 8% y-o-y increase in salesforce headcount to 11,667 at the start of 2023 from 10,796 a year ago. Ong, whose target price is based on a 14 times FY2023 P/E, says the company' s balance sheet is " robust" with a net cash position of $139 million, or 37.5 cents per share, underpinned by its highly scalable and asset-light business model.
Meanwhile, DBS' s Ling says a strong pipeline of new launches will support the resilient property market, but a price increase could be slower.
She expects buyers to remain cautious but overall transaction velocity to remain supported by a strong pipeline of new launches, but that the " swing factor" will come from foreign buyers looking to call Singapore home.
On the back of the resilient property market, she has raised her property transaction volume assumption for the various segments by 5% to 8% for FY2023 and FY2024, raising her earnings forecasts for both years by 17% and 20%, respectively. Her target price has been raised to $1.88 from $1.61 previously, still pegged to an 11 times P/E on FY2023 earnings, about 1 standard deviation (s.d.) above PropNex&rsquo s historical mean. &mdash Bryan Wu
Break 2 today ?
Volume building up
Breaking $2 soon
Breaking $2 soon
Where to find on sgx nowadays
give bonus issue and still solid dividend?
give them a few years who know will be in
sti component ....
give bonus issue and still solid dividend?
give them a few years who know will be in
sti component ....
hehe, only 31Lots traded amongst the clan! dyodd,
Looking good
Look forward to bonus issue
Will be $3-$4 after bonus issue technically
Left to right actually
Look forward to bonus issue
Will be $3-$4 after bonus issue technically
Left to right actually
this week let contra collect kopi first.....
pcxiao2008 ( Date: 03-Mar-2023 15:17) Posted:
|
can watch next week...should clear $2 ba....
Propnex Q4 profit up 24.5% to S$17.8 million proposes 1-for-1 share issuance
PROPNEX on Tuesday (Feb 28) posted a net profit of S$17.8 million for the fourth quarter ended Dec 31, 2022, a 24.5 per cent year-on-year gain from S$14.3 million.
Revenue for the quarter grew 23.3 per cent to S$298.4 million, from S$242 million. This was due to an increase in commission income from agency services and from project marketing services as Covid-19 eased, and the economy improved, the company said.
Earnings per share for Q4 was 4.8 Singapore cents, higher than the 3.86 cents posted in Q4 2021.
Propnex proposed a final dividend of S$0.08 per share, to be paid out on May 12 after books closure on May 2.
Separately, the group also proposed a one-for-one &ldquo bonus&rdquo share issuance, where one new share is credited for every one existing Propnex share held. Up to 370 million new shares would be issued under the proposal.
In doing so, the company seeks to to broaden accessibility to more investors and encourage trading liquidity.
A circular with more information will be sent to shareholders in due time, said Propnex.
Meanwhile, the property group posted a 3.9 per cent improvement in net profit for FY2022 at S$62.4 million, from S$60 million for FY2021.
Revenue rose 7.5 per cent to S$1 billion, from S$957.5 million.
Propnex said its FY2022 results were supported by a strong growth in full-year commission income, largely due to the robust residential resale and rental market in 2022.
&ldquo Looking forward, we believe that buying interest will continue to remain resilient, as seen by the successful launch of Sceneca Residences early this year and with a healthy pipeline of new launches expected in 2023,&rdquo said Ismail Gafoor, co-founder, executive chairman and chief executive of PropNex.
like this stock as the dividend yield increasing and also bonus issue coming...
pcxiao2008 ( Date: 01-Mar-2023 09:46) Posted:
|
yes ..super undervalued stock...at least 50%
i holding it tight
i holding it tight
muifan ( Date: 01-Mar-2023 09:34) Posted:
|
dont be suprise $2.50-$3 counter.....
pcxiao2008 ( Date: 01-Mar-2023 09:32) Posted:
|
BB hiding inside ...slowly up the price...
$2 coming soon
$2 coming soon
if at that price without any owned assets? ho bee has great assets and cdl at 2.24 n 7.7 all worth more than a couple of billions, wouldn' t it be a much better bet. depending on salesmen commission is almost a death trap if one whole chunk of 5k sales leave to start a new agency or join another agency that takes only 5% of their comm, then gone case leow, dyodd
MBULLISH ( Date: 28-Feb-2023 20:28) Posted:
|
I am not surprise that it will become $3-$4 in future
Solid earnings always
Solid earnings always
TradeExpert ( Date: 28-Feb-2023 12:08) Posted:
|