COMFORT (TP 103 to 124 based on FY 2019 EPS of 6.9 Sen with PE range 15 to 18
I look at the results Q2 FY2019 released. Acknowledged that the result of Comfort could have been better for Q2 if not for the following non-recurring expenses
1. Share based payment RM1,524,000
2. Non-recurring one off logistics expenses RM4,400,000
The expenses is probably relating to shipments being held in US in March 2018, when the products had technical issues with US FDA for compliance which had been resolved but would have affected April sales to US.
Given that the Co had faced the impasse on the technical compliance requirements of FDA of US in March 2019 and resolved it satisfactorily, going forward we would expect shipments to normalise and sales to increase.
Another key factor is the weakening of RM against USD from 1 July of 4.05793 to 4.13993 on 30 Sept, with an average rate of 4.09893 during this period compared to average rate of 3.96129 in Q2, an increase of 3.5% would increase Comfort profit margin
I am projecting FY 2019 EPS to be around 6.9 Sen compared to FY 2018 of 6.43 Sen. Thus my valuation of Comfort using FY 2019 EPS of 6.9 Sen (1h 2019 my adjusted EPS is 2.9 Sen) with PE of 15 to 18 would range from 103 to 124. You may have to wait for next Q3 results for market to realise my valuation.
Kenanga Research is retaining its underweight call on rubber gloves due to the rich price-to earnings ratio(PER) valuations and flat sequential earnings growth
----------------------------------------- SuperPanda even though it will try to stay at rm1, when market bad, it will be the main victim for sell off 01/10/2018 09:12
you need to dream big. price drop down little bit start calling ah ma , ah pa. this counter can make you earn big money if you continue long term investment.
Insider told me that the analyst know nothing. They just come out from college and know nothing but only know how to write shit article with colorful graph
CIMB recommends Dialog Group Bhd, Genting Bhd and Westports Holdings Bhd as “defensive plays,” while AllianceDBS prefers companies that don’t rely on government contracts, especially exporters like glove producers, even if those may face risks from the US-China trade war, Ching said.
High crude oil price hammers top glove and superman as synthetic rubber cost up bad for gloves
AND weak top glove and superman will drag comfort lower. So sell early before price goes lower. Those who escape early will live comfortably. Stubborn ones will suffer losses.
Brent crude oil up! Cost of resin up! Cost of nitrile glove up! Will drag down top glove and superman profits Will also drag down comfort glove share price in tandem
With this kind of bad continuous market sentiments keep dominating globally , keeping long term shares and averaging will gradually kills your resources unnoticed in a matter of time . Stay focused and abide by the trend is more advisable.
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calvintaneng
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Posted by calvintaneng > 2018-10-02 21:39 | Report Abuse
RUN NOW
https://www.youtube.com/watch?v=fIFqczm86kc