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Accumulate on weakness! Recall during 2017-2019 when the price tripled to $28+. #DYODD
Huataarrhh ( Date: 29-Jan-2024 09:35) Posted:
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UOB Kayhian report
Venture Corporation (VMS SP) Expect Earnings Recovery In 4Q23 And 2024 Raise Target Price By 16% To S$16.37
We expect VMS to report 4Q23 earnings of S$65m (-34% yoy/+3% qoq), its first qoq growth after three consecutive quarters of decline since 1Q23. Earnings growth in 2024 will be driven by customers&rsquo inventory restocking, new product launches and relocation of manufacturing facilities to the ASEAN region. Also, most of VMS&rsquo customers expect to record revenue growth in the coming quarter/year. We raise our target price by 16% to S$16.37 after raising our valuation multiple to +0.5SD above mean. Maintain BUY.
Venture Corporation (VMS SP) Expect Earnings Recovery In 4Q23 And 2024 Raise Target Price By 16% To S$16.37
We expect VMS to report 4Q23 earnings of S$65m (-34% yoy/+3% qoq), its first qoq growth after three consecutive quarters of decline since 1Q23. Earnings growth in 2024 will be driven by customers&rsquo inventory restocking, new product launches and relocation of manufacturing facilities to the ASEAN region. Also, most of VMS&rsquo customers expect to record revenue growth in the coming quarter/year. We raise our target price by 16% to S$16.37 after raising our valuation multiple to +0.5SD above mean. Maintain BUY.
Venture 1 year ago was $18 plus
Might be time to start collecting, given the historical stability of dividends and support from the ongoing buyback programme.
Analyst Target Prices:
CIMB: $15.90
DBS: $15.10
Maybank: $15.4
UOB: $14.06
RHB: $14.70
Analyst Target Prices:
CIMB: $15.90
DBS: $15.10
Maybank: $15.4
UOB: $14.06
RHB: $14.70
CGS-CIMB lowers Venture Corps TP to $15.90, expects FY2023 net profit to fall by 27.9% y-o-y
CGS-CIMB Research analyst William Tng has kept ADD on Venture Corporation with a lowered target price of $15.90 from $16.61 previously. The lower target price was attributed to a lower earnings per share (EPS) estimate for the FY2025 but is still based on 14.6 times Venture&rsquo s FY2025 P/E and its 15-year average.
While the analyst still likes the counter for its dividend yield of 5.46% over FY2023 to FY2025, he predicts lower earnings for the same period.
Tng&rsquo s report dated Jan 24 comes ahead of Ventures FY2023 ended Dec 31, 2023 results, which will be announced on Feb 22. &ldquo We think FY2023 net profit could fall 27.9% y-o-y to $266.6 million as customers&rsquo orders could remain weak,&rdquo he writes. In the 4QFY2023, Ventures net profit could come in at $66.3 million, down 35.4% y-o-y and flat q-o-q, according to Tngs calculations.
The analyst is basing his estimates on Plexus Jan 16 announcement where the company said that it would not meet its revenue guidance for the 1QFY2024 ended Dec 31, 2023, as it saw continued market-driven inventory corrections and an incrementally weaker demand from the healthcare and life sciences as well as industrial market sectors.
Plexus previously guided for its 1QFY2024 revenue to be within the range of US$990 million ($1.33 billion) to US$1.03 billion. Instead, it now expects to make between US$980 million to US$985 million in revenue, 1.0% to 4.4% lower than its previous guidance.
We think the read-through from Plexus is that 4QFY2023 demand environment could similarly remain weak for Venture, says Tng.
CGS-CIMB Research analyst William Tng has kept ADD on Venture Corporation with a lowered target price of $15.90 from $16.61 previously. The lower target price was attributed to a lower earnings per share (EPS) estimate for the FY2025 but is still based on 14.6 times Venture&rsquo s FY2025 P/E and its 15-year average.
While the analyst still likes the counter for its dividend yield of 5.46% over FY2023 to FY2025, he predicts lower earnings for the same period.
Tng&rsquo s report dated Jan 24 comes ahead of Ventures FY2023 ended Dec 31, 2023 results, which will be announced on Feb 22. &ldquo We think FY2023 net profit could fall 27.9% y-o-y to $266.6 million as customers&rsquo orders could remain weak,&rdquo he writes. In the 4QFY2023, Ventures net profit could come in at $66.3 million, down 35.4% y-o-y and flat q-o-q, according to Tngs calculations.
The analyst is basing his estimates on Plexus Jan 16 announcement where the company said that it would not meet its revenue guidance for the 1QFY2024 ended Dec 31, 2023, as it saw continued market-driven inventory corrections and an incrementally weaker demand from the healthcare and life sciences as well as industrial market sectors.
Plexus previously guided for its 1QFY2024 revenue to be within the range of US$990 million ($1.33 billion) to US$1.03 billion. Instead, it now expects to make between US$980 million to US$985 million in revenue, 1.0% to 4.4% lower than its previous guidance.
We think the read-through from Plexus is that 4QFY2023 demand environment could similarly remain weak for Venture, says Tng.
Hope it will rise beyond $14 soon.
SmallSmall ( Date: 27-Dec-2023 13:08) Posted:
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This one still have a long way to recover. The trend has reversed. $13.68 +$0.27
SmallSmall ( Date: 27-Dec-2023 09:36) Posted:
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R breakout at 13.43
think more to come
think more to come
$13.56 +$0.15 :)
tongphlp ( Date: 18-Dec-2023 13:56) Posted:
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2 perspectives...
the $ can be better spent expanding/diversifying the biz instead of SBB
even with SBB the price is like....
conclusion - u decide
the $ can be better spent expanding/diversifying the biz instead of SBB
even with SBB the price is like....
conclusion - u decide
SmallSmall ( Date: 16-Dec-2023 08:01) Posted:
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Nice $13.21 +$0.31 back to the high. More share buybacks :)
Yup. Want buy no scare. Want scare no buy.
I am looking at this stock for the biggest return in 2024.
Hope I am right.
They held a AGM just to authorize a 10 million share buy back and the company
is flushed with $800 mil cash if I am not wrong.
I am looking at this stock for the biggest return in 2024.
Hope I am right.
They held a AGM just to authorize a 10 million share buy back and the company
is flushed with $800 mil cash if I am not wrong.
ruanlai ( Date: 16-Dec-2023 00:19) Posted:
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Today day 1 SBB 80 lots @ $12.80
More to come......
dyodd
More to come......
dyodd
taken for a ride..
MambaFinancial89 ( Date: 15-Dec-2023 14:45) Posted:
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Just to add, the announcement of the proposed share buybacks was on 30 Nov. No buybacks since... Let' s see...
MambaFinancial89 ( Date: 15-Dec-2023 14:45) Posted:
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Venture back to SGD 12.730, hope they initiate the announced buybacks asap and aggressively.
Closed at the high $13.30 :)
And they have not even started their 10m share purchase.
Time to ride the recovery all the way back to $14 then $15 then $16 :)
And they have not even started their 10m share purchase.
Time to ride the recovery all the way back to $14 then $15 then $16 :)
SmallSmall ( Date: 08-Dec-2023 11:25) Posted:
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With the company' s proposed 10 mil share buyback, pretty sure the smart shorts are beginning to cover back their borrowed scrips.
This will be the company to watch for recovery play.
Buy the DLC longs for leveraged returns :)
This will be the company to watch for recovery play.
Buy the DLC longs for leveraged returns :)
talk is cheap...it' s a hopeless stock..yes, up 20c, down $1..
in the good old days, it was a high as DBS..look at it now...disgrace
in the good old days, it was a high as DBS..look at it now...disgrace
MambaFinancial89 ( Date: 04-Dec-2023 11:01) Posted:
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Interesting that Venture announced the proposed buyback of 10m shares on Thur (30 Nov) but did not start buying on Fri (1 Dec). Will continue to monitor progress.