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Riverstone
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Riverstone go go go!
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ETHunter
Master |
22-Mar-2024 16:29
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Thanks for the buy up. Took some profits and wait. All the best. | ||||
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beng1102
Elite |
22-Mar-2024 16:18
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Open short almost all covered.  Now depend on real buying to push up.
RIVERSTONE HOLDINGS LIMITED 20240216 7,700,900 RIVERSTONE HOLDINGS LIMITED 20240223 8,913,600
RIVERSTONE HOLDINGS LIMITED 20240301 16,852,000
RIVERSTONE HOLDINGS LIMITED 20240308 22,084,000
RIVERSTONE HOLDINGS LIMITED 20240315 120,800
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msksmsks
Supreme |
22-Mar-2024 10:24
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Green green amid sea of Red.    Staying strong....on a uptrend Any pullbk/dips an opportunity to buy |
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Joelton
Supreme |
22-Mar-2024 09:27
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Riverstone up amid heavy trading
 
SHARES of Riverstone Holdings were up as much as 8.9 per cent to S$0.84 during Thursday&rsquo s (Mar 21) earning trading.
 
The last time the counter closed near the level was on May 4, 2022.
 
As at 10.33 am, it was trading up 7.8 per cent to S$0.825 with 8.6 million shares changing hands. It stood as the 10th most heavily traded counter on Singapore Exchange.
 
RHB on the same day upgraded Riverstone Holdings to &ldquo buy&rdquo from &ldquo neutral&rdquo on its improving sales volume and above-industry margin profile.
 
The brokerage is positive that the group will ride on a robust recovery of global semiconductor sales with its unique exposure to the cleanroom segment, on top of benefitting from an increased demand for healthcare gloves.
 
While expecting the Malaysian glove maker to chart a 23 per cent core profit growth in FY2024, RHB raised its earnings forecast for the year up 12 per cent. It also raised the earnings estimate for FY2025 up 24 per cent. This is to account for improving sales volume with a better product mix that sustains the group&rsquo s average selling price (ASP).
 
The upgrade came with an increased price target to S$0.93 from S$0.74. The target implies an 18 times multiple of the brokerage&rsquo s earnings forecast for FY2024, which is 0.7 standard deviation above the pre-Covid five-year mean of 14.8 times.
 
RHB highlighted that the group is the only Malaysian glove maker that is still posting double-digit core profit margin while continuing its consistent dividend payout. 
 
Riverstone on Feb 28 posted a 60.7 per cent jump in Q4 net profit, despite a 2.3 per cent decline in revenue. It also proposed a special interim dividend of five sen and a final dividend of 7.5 sen for FY2023, translating to a 151.3 per cent payout ratio.
 
RHB said the group is in a &ldquo sweet spot&rdquo to capitalise on the recovery of global semiconductor sales.
 
&ldquo Riverstone is expecting its cleanroom gloves ASP to hold up steadily at US$90 per 1,000 pieces driven by solid customer demand from various technology industries such as hard disk drive, sensor, chip manufacturing, among others.&rdquo
 
In healthcare gloves segment, RHB expects the demand supply dynamics to reach equilibrium by the second half of 2024 as inventory destocking is ending. It added that Riverstone&rsquo s focus on high specialtiy products upon revamping its generic production line is also set to sustain its raised healthcare gloves ASP.
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ETHunter
Master |
21-Mar-2024 22:49
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Wait for AGM to hear good news from boss. TP 88c. Huat. | ||||
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highlander
Senior |
21-Mar-2024 22:49
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RHB analyst report (21 March 2024) / TP $0.93 Key points : -  Upgrade to BUY from Neutral, with new DCF-derived SGD0.93 TP from SGD0.74 -  Riding on the structural recovery in global semiconductor sales -  Demand picking up in the healthcare segment. -  Outlook. Riverstone is expected to replenish its production capacity by 1bn (primarily for cleanroom gloves) by end-2024  - Positively, Riverstone is the ONLY Malaysian glove maker that is still posting double-digit core profit margin while continuing its consistent dividend payout.  |
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highlander
Senior |
21-Mar-2024 19:41
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Short sell volume today is only 29,500 shares.    |
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tonytony
Veteran |
21-Mar-2024 13:50
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Big buyers disappear all of the sudden . | ||||
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eddyeddy
Master |
21-Mar-2024 13:03
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They covered back , now they short again . | ||||
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FreedomAngelz
Veteran |
21-Mar-2024 12:14
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RS is doing well post covid, probably even better pre-covid. We can ignored the covid period because those 2 year are extraordinary period. For price direction, it now largely depend on the shorts it accumulated. Its now dangerous territory for shortist.    |
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Chansenghoe1971
Elite |
21-Mar-2024 12:13
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Yawn | ||||
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easywin
Supreme |
21-Mar-2024 10:49
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Not enough orl waiting more profits? | ||||
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eddyeddy
Master |
21-Mar-2024 10:34
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Sorry my mistake , should be FR . Will consider to buy some FR
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eddyeddy
Master |
21-Mar-2024 10:31
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I sold higher at 0.835 | ||||
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beng1102
Elite |
21-Mar-2024 10:24
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Now sold 100lots in total.
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msksmsks
Supreme |
21-Mar-2024 10:15
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Bro,  I think u mixed up with RS and First Resources (FR) FR is giving 3.7ct (final dividend) in coming May not RS . My justification to buy FR is written in that thread.  Go n read abt it I' ve sold partial RS and holding the bal for the Q1 result  and wl reload when pullbk   
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Klein_Yeoman
Member |
21-Mar-2024 10:08
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Still have 7.5sen dividend lei. Why don't want? LoL
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beng1102
Elite |
21-Mar-2024 10:04
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I think massice short covering happen today as FED indicate interest rate and share open with a strong surge.
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eddyeddy
Master |
21-Mar-2024 10:03
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The 3.7 cents XD already ,? Can share why you buy RS , thanks.
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eddyeddy
Master |
21-Mar-2024 09:58
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Sold some more , because if no more short covering , price may drop down | ||||
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