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Dividends coming next week!!!
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UNAUDITED RESULTS FOR FIRST QUARTER ENDED 30 JUNE 2013
http://infopub.sgx.com/FileOpen/SGX_1QFY1314.ashx?App=Announcement& FileID=249227
UOBK maintains at Hold, but lowers TP from $3.40 to $3.13. Tips potential entry price at $2.90. Notes cost pressures remain the key challenge, in view of high staff costs (46% of total costs) arising from govt levies and a tight labor market. Yet the ability to pass on the cost increases could be limited, as pricing is negotiated with airlines annually. Meanwhile, a slowdown in Changi Airport traffic leads UOBK to lower its pax and cargo traffic assumptions.
SATS: Announced that it will sell its 40% equity interest in its Adel Abuljadayel Flight Catering Company joint venture for a cash consideration of US$18.4m (~S$23.4m), which is slightly below the book value of the asset as of 31 Mar (S$24.1m). Despite the short two-year tenure of the JV, the exit does not signal a change in management intent regarding the region. Management still intends to re-enter the Middle East, and will continue to pursue other attractive investment opportunities. In the interim, the outlook for SATS remains positive and we believe the counter’s earnings stability and healthy dividends will allow it to stay resilient amidst recent market volatility. OCBC maintains HOLD with an unchanged fair value of $3.15
New Sports Hub ready by April 2014......
SATS proposed disposal of 40% stake in Adel Abuljadayel Flight Catering Co (AAFC) for US$18.4m (~$23.4m) cash. This compares with the Mar ‘13 book value and NTA of the sale shares of $24.1m and $4.8m respectively. The transaction is not expected to have any material impact on the NTA/sh and EPS for the current financial year. SATS has reviewed its invmt in AAFC and believes the proposed transaction is in its interests as it continues to pursue other attractive invmt opportunities in the Middle East region. The co remains focused on leveraging its core competencies in gateway and food to access suitable opportunities and grow its presence in this mkt. According to latest data from Changi, passenger traffic in May rose 4.7% yoy to 4.28m. This represents a recovery from Apr’s muted 0.8% increase (partly boosted by the Good Friday holiday this year). Pax growth was supported by firm intra-Asia traffic demand, with Japan, Msia, Thailand registering double digit increases. Deutsche expects traffic to pick up further in Jun, reflecting the school holidays. Also notes 2H tends to be seasonally stronger for SATS. Hence while SATS may have had a fairly subdued start to its FYMar14, the house maintains its view of a 7% increase in pax handled for the full year. Reiterates Buy with TP $3.54, supported by dividend yield of up to 8% pa over 5 yrs (under a blue skies scenario of no M& A and gradual increase in gearing).
many counters having a good decent run this couple of days. Except SATS. In fact it has been on the downside. Any reason why? Will SATS have a run up soon? Vested....
Octavia ( Date: 23-May-2013 21:10) Posted:
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This one is good, institutional interest is obvious.
Maybank Kim Eng upgrades to BUY with TP of SGD3.90/shr.
http://www.remisiers.org/cms_images/research/May20-May24_2013/SATS_230513_4325.pdf
The Directors proposed, subject to shareholder's approval at the Annual General Meeting to be held on 26 July 2013, a final dividend of 6 cents per ordinary share one-tier tax-exempted and a special dividend of 4 cents per ordinary share one-tier tax-exempted to be paid on 16 August 2013.XD is on 8 Aug 13.
sats ready for take off. Now its time to rally!!
3.50 here we come!!
kelvinLim123 ( Date: 13-May-2013 18:33) Posted:
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4QFYMar13 results slightly below. Revenue at $449m, +3.6% yoy, driven by growth in both Gateway Services (+7.7%) and Food Solutions (+1.4%). Increased flights and higher meal volumes helped offset lower contribution from TFK due to the weaker yen. Net profit was $46.2m, -7.8%, mainly due to a $16.8m impairment of the deferred consideration due on the sale of the Daniels group that was completed in Oct ’11. The receivable is contingent on Daniels’ performance over the two years to Mar ’13, which did not meet expectations. Adjusting for Daniels and other exceptionals, core net profit would be $63m, +32% yoy. On outlook, mgt believes the continued growth of pax traffic at Changi Airport and the robust intra-Asia traffic will provide opportunities for the group’s gateway and food businesses. But expects air freight demand to remain weak. Adds continuing manpower policies in Singapore and their impact on operating costs remain major challenges for SATS. The group continues to seek new growth areas by expanding its offerings and regional footprint. Mgt proposes a final dividend of 6 cts and special dividend of 4 cts. Total FY13 div amounts to $0.15/sh (90% payout ratio), translates to a yield of 4.8%, but is down from the $0.26/sh distributed for FY12. At last close at $3.14, SATS trades at 18.9x P/E, vs peer SIE at 21.3x.
If anlyst is right, they shd be buying stock, not calling, wait till it visit 3.5 in this rally, then analyst will change tune.
i believe this one will have a special div again this q report.
mkt dont follow analyst.
Base on yesterday's surge and volume, Maybank KimEng target of 3.03 may be within reach.
Octavia ( Date: 31-Jan-2013 12:12) Posted:
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Maybank Kim Eng had Downgrade to HOLD on valuations, 3Q a weak peak. SATS reported 3Q results which were slightly below expectations, as 9MFY3/13 PATMI of SGD138.6m comprised only 71% of our full-year estimates. We downgrade SATS to a HOLD premised on its share price run-up, which would have netted investors a cool 52% total return (including SGD0.26 of dividends) following our upgrade just over a year ago, as well as trimmed forecasts which imply a slightly lower Target Price of SGD3.03. We believe SATS is fairly valued at current levels, while existing investors continue to enjoy dividend yields of ~5.5%.
Hmmm.... Let's say the full-year EPS is 17cents, and the current price is $3+
from my perspective, if I buy at current price, my return is only about 5%?
Note: I'm neutral here... I don't have vested interest & I'm not buying/selling SATS.
Octavia ( Date: 30-Jan-2013 20:34) Posted:
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The run-up in before the earning release was swift and sweet.... with relatively lower volume, many opportunistic funds/traders can make the moves...Analysts monitor and analyse, publish reports to facilitate the current flow (wonder are they salary workers and work for free?). Ask the electricians how they measure the electric current (Amps) in the circuit with the multimeter....
Buy on rumors/events and Sell on news! Will come again next season/round....
Octavia ( Date: 31-Jan-2013 09:19) Posted:
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The price already build up before result hence sell on news.Not to worry,I think it will climb up again.
scage11 ( Date: 31-Jan-2013 09:06) Posted:
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wow, wonder why it opens at $3.05.... tot it reported some good earnings... anyone care to share?
SATS Ltd posted a 23 per cent increase in net profit at S$47 million for the third quarter ended Dec 31, 2012, after the market closed on Wednesday.
Revenue for the same period stood as S$470.6 million, up 6.4 per cent from the same period a year ago.
For the nine-month period, net profit was up by 14.7 per cent at S$138.6 million, while revenue stood at S$1.37 billion, a 9.4 per cent increase.
Earnings per share for the group stood at 4.2 Singapore cents for the quarter and 12.5 Singapore cents for the nine-month period, up from 3.5 Singapore cents and 10.9 Singapore cents during the corresponding periods the year before.
Huat for those invested.