kuengkuchengit is simple panic reaction...when 90% drop..this shows worse than a loss making company which only drop 10%
kuengkuchengppl tend to react more quickly on negative news, logically they will cut loss and wait for the next chance to come
kuengkuchengmplus analyst states today it is below estimate. 1 ship vs. 10 ships last yr...call for Sell valued only 1 from 1.60/share like no hope..seems like next yr will make 0 sales....analyst trigger nerve and a definite shock further short term investor to run away.
kuengkuchengWith the reported earnings coming below our forecast, we slashed our earnings estimates by 74.1% and 33.0% to RM43.4 mln and RM69.3 mln for FY17 and FY18 respectively, to reflect the poor sentiment in the OSV industry. We downgrade Coastal to SELL recommendation with a target price of RM1.05 (from RM1.65)Our target price is arrived by ascribing a target PER of 8.0x to our revised FY18 EPS estimate of 13.0 sen per share. At the target price of RM1.05, Coastal will be trading at PERs of 12.9x and 8.1x of FY17 and FY18 respectively, which is close to its closest peer - Nam Cheong Holdings Ltd.
steveooikpthat's why I say stupid trading house.... stupid comment.... this is a cash rich company, good management, with good order book on hand... why down 10 sen?
steveooikpdon't anyhow dump... coastal still got huge contract on hand... ! 2.4 bllion project!
steveooikpOrder book replenishment risk persists. COASTAL’s order book stands at RM2.3b, of which RM837m is attributable to OSV fabrication spanning until CY17 while the remaining RM1.5b are the JUGSU charter contract. Meanwhile, COASTAL had received more requests from clients to defer vessel delivery during the quarter which will cast further weakness and uncertainty on its shipbuilding segment in view of prolonged vessel oversupply issue resulting from low offshore activities. We believe COASTAL most probably will allow these deferrals without any substantial penalty in order to preserve client relationships.
steveooikp2.3 b order book!!! why dump? the mgmt. is good, they are very cautious.
steelmanthough going for coastal with 300+ million loan in US dollars. With US exchange having gone up, servicing of loan interst and repayment challenging. with impending us hike in int in dec 16 or 2017, more money needed to service debt. be cautious!
kewyySteelman coastal also has 500 million cash in usd so how to explain it?
steelmanin the quarterly report there is no mention of 500m cash in usd. infact the balance sheet only indicate cash in hand in ringgit which has dropped by 165 m compared to previous qtr. the notes to account shows that only 3.3m is secured borrowing in ringgit, the rest is in usd. I have exited this counter as the company have no plans to address this usd borrowing issue.
SapphireWhatever...just bought 10 lot again..collect at the btm fish sure no wrong..
steveooikpplenty of cash company... good order book. continue to get contracts.... keep loh 1.29? where to find...
KayGood price now, will collect. Lots of upside ahead with good order book
gearyCompany dealing with commodities are cyclical in nature. Good news now OPEC n non OPEC are cutting down production n recently oil price uptrend. By January OPEC will export less to EU n US, so d price will stabilise. Maybe chances this counter to be in the uptrend. Support is roughly at this price, at 25% below its NCAV, floor value. No deficit yet, n total borrowing is still reasonable for its collaboration with other company gas exploration. Future prospects is okay if earnings is upside for the coming quarters. Gd luck!
aquilaRM1.40 now. Any good news other than opec oil reduction?
steveooikpclimb back... this is a v v good counter.... can buy more... keep it.... it will rebound like a horse...
gearyUptrend at present! If oil price stay above $55, earnings will increase n stock price will go up. At present it is below its net current asset value of 1.70. Good chance for share buyback n insiders buying. Gd luck!
steveooikpcoastal.... buy and keep if you have money.... till to-date .... good order book, contracts keep on coming in,,. good mgmt... dividend somemore...
steveooikpgood company... nothing to worry... but need patience.....
kenny5978Too bad to see this counter keep moving down... What actually wents wrong on thisnfounter????
ShrekkWhen a good fundamental stock is being overlooked and price tumbles at low there's rise the golden opportunity for shrewd people to accumulate at low. Or do you want to chase at high? Buy on stages.
SniperEliteAgree buy on weakness, Share buying philosophy, buy low, sell high. I see opportunity, just got 6 lots... at 1.33 so good but have to wait long term. The two Singapore ship building companies has collapsed giving this share more golden opportunities indeed.