their 39 acres land in batu gajah perak can triple their current profit. 3 x 32 million per year = 96 million per year profit number of share = 582 mil eps = 16 cents per share assume pe 18 share price will be around 3.00 per share
The batu Gajah plant is 3 times the size of seal polymer Ipoh where the current comfort boss sold to supermax at 1.40 per share. If the batu gajah plant fully developed , comfort share can hit 3.00 per share.
Comfort's result is acceptable in this quarter. It increased YoY and decreased QoQ. 2H CY2019 should be a better half for glove manufacturers when supply and demand are more balanced. USD is strengthening and that will help to boost earnings. The analysts give 17x - 18x PE multiple to Comfort. If uses Q1&Q2 FY20 EPS to annualise, the fair value with 17-18x multiple is 95sen - RM1 per share. There is 22-29% upside from current stock price @77.5sen.
The sentiment of glove counters are controlled by TG & Harta result. It might need to cruise for another 2 qtrs before the positive sentiment w big fund flowing in.... Patience (等待)w objective is also a type of investment 。。。。。
Comfort Glove has good earning performance in last five years, whereby its earning per share almost doubled over five year period (from 2.87 sen to 5.69 sen). At current share price, P/E ratio is reasonable (13.85).
Based on comparison of 7 major glove manufacturers in Malaysia, it is found that currently Comfort Gloves is not ranked as the TOP 3 glove manufacturers worthy to invest in. However, Comfort Gloves stands out in performance indicators such as having overall positive and steady earning per share trend in the last five financial years. However, its cost-to-income ratio (1238%) is high compared to other manufacturers. Improvement on this area is needed to increased profitability.
second batch will be 0.70, 0.6x or come back 0.80. third batch will wait for uptrend forming first. glove sector still at bottom accumulating. 去年2018年尾 我估算大概要1年半才能從一個高峰掉下來會去高峰 再創新高 所以2020下半年可以趁機大量買入搭上飛車
why no limit down one ? I am a con man. faster limit down.... hagaha
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SuperPanda
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Posted by SuperPanda > 2019-06-25 19:39 | Report Abuse
this year till end year market will be boring, big investor dont want to buy stock
stock drop very fast, up very slow