Company Info
| Market Capital (Capital Size) | 6,048,134,179 (Very Large) |
| Par Value | RM 1.00 |
My Analysis
| Forecast P/E now | (5.53-0.15)/0.3639 = 14.78 (Moderate) |
| Target Price | 6.55+0.15 = 6.70 (PE 18.0, EPS 0.3639, DPS 0.15) |
| Decision | BUY if stock price below or near to SMA20 |
| Comment | Revenue increased 11.3% and also higher than preceding year corresponding quarter 20.6%, eps increased 27.6% and also higher than preceding year corresponding quarter 15%, cash generated from operating is more than enough to cover all expenses, slightly weaker liquidity ratio at low level now, higher gearing ratio at high level now, payables ratio at high level now, most country business growth, higher inventory can indicate still a good sentiment of spending |
| First Support Price | 5.45 |
| Second Support Price | 5.2 |
| Risk Rating | MODERATE |
Research House
| BIMB Target Price | 7.57 (2011-01-24) |
| HwangDBS Target Price | 6.5 (2011-04-11) |
| RHB Target Price | 6.23 (2011-06-17) |
| AMMB Target Price | 6.79 (2011-08-24) |
| OSK Target Price | 6.68 (2011-10-10) |
| Affin Target Price | 7.15 (2011-11-03) |
| ECM Target Price | 6.4 (2011-11-24) |
| MIDF Target Price | 6.42 (2011-11-24) |
Accounting Ratio
| Return on Equity | 10.75% |
| Dividend Yield | 2.71% |
| Profit Margin | 26.56% |
| Tax Rate | 26.20% |
| Asset Turnover | 0.3731 |
| Net Asset Value Per Share | 2.25 |
| Net Tangible Asset per share | 1.04 |
| Price/Net Tangible Asset Per Share | 5.43 |
| Cash Per Share | 2.92 |
| Liquidity Current Ratio | 1.3368 |
| Liquidity Quick Ratio | 1.0715 |
| Liquidity Cash Ratio | 0.9251 |
| Gearing Debt to Equity Ratio | 1.808 |
| Gearing Debt to Asset Ratio | 0.5404 |
| Working capital per thousand Ringgit sale | 37.9% |
| Days to sell the inventory | 133 |
| Days to collect the receivables | 60 |
| Days to pay the payables | 307 |
Technical Analysis
| SMA 20 | 5.537 (Uptrend 1 day) |
| SMA 50 | 5.512 (Uptrend) |
| SMA 100 | 5.415 (Uptrend) |
| SMA 200 | 5.524 (Uptrend) |
| MACD | 0.035987 (Downtrend 4 days) |
| MACD Histogram | -0.001177 (Downtrend 1 day) |
My notes based on 2012 quarter 1 report (number in '000):-
- Higher revenue and pbt was attributed to healthy same store sales growth and the opening of new stores and the inclusion of the business operations from Indonesia which was acquired in June 2011
- Higher revenue and pbt than FY11Q4 was attributed to higher spending during the Muslim festive season in Malaysia and above reason
- Estimate next 4Q eps after 2012 Q1 result announced = 0.3308*1.1 = 0.3639, estimate PE on current price 5.53 = 14.78(DPS 0.16)
- Estimate next 4Q eps after 2011 Q4 result announced = 0.32*1.1 = 0.352, estimate highest/lowest PE = 16.08/13.41 (DPS 0.16)
- Estimate next 4Q eps after 2011 Q3 result announced = 0.3094*1.1 = 0.3403(0.3094 from recent fourth quarter eps), estimate highest/lowest PE = 22.25/14.66 (DPS 0.16)
- Estimate next 4Q eps after 2011 Q2 result announced = 0.1587*2*1.05 = 0.3333, estimate highest/lowest PE = 17.19/15.09 (DPS 0.16)
- Estimate next 4Q eps after 2011 Q1 result announced = 0.3015, estimate highest/lowest PE = 19.24/17.38 (DPS 0.15)
- Estimate next 4Q eps after 2010 Q4 result announced = 0.3015, estimate highest/lowest PE = 20.17/17.74 (DPS 0.06)
- Estimate next 4Q eps after 2010 Q3 result announced = 0.2741*1.1 = 0.3015, estimate highest/lowest PE = 18.91/16.42 (DPS 0.05)
- Estimate next 4Q eps after 2010 Q2 result announced = 0.2676*1.1 = 0.2944, estimate highest/lowest PE = 20.48/17.15 (DPS 0.05)
PARKSON latest news (English)
PARKSON latest news (Chinese)
MIER Consumer Sentiment Index
MYR/CNY Chart
1 comment:
Well, based on that analysis, Parkinson looks like a buy for sure. Also, with holding companies, the parts are worth more than the whole, which also opens up opportunities for profitable spin-offs.
Post a Comment