Post Reply
3281-3300 of 3391
ST Engineering: All-time high order book of S$13.0b - IOCBC
Singapore Technologies Engineering (STE) reported 1Q13 results that were generally in line with ours and consensus expectations. Revenue grew 0.2% YoY to S$1.54b, and PATMI fell 0.3% YoY to S$134m. Highlights include: 1) lack of the biennial Singapore Airshow in 1Q13, which contributed to a S$6.1m drop in share of results of associates and jointly controlled entities, 2) growth in administrative expenses by S$7.9m (7% YoY) due to increased headcount from new Aerospace subsidiaries. STE's order book reached a new high of S$13.0b as of end-Mar 2013 (4Q12: S$12.1b), of which S$3.6b is expected to be delivered in the remainder of 2013. We forecast FY13F EPS of 19.8 S cents. Raising our P/E peg to 22x from 20.7x, given the increased visibility from the record order book, we raise our fair value to S$4.36 from S$4.12. We maintain a HOLD rating on STE and estimate a FY13F dividend yield of 4.1%.
ST Engineering (STE SP)- UOB KH
1Q13: Flat Net Profit But Guidance For Full-year Growth
OrderBook At Record High Of S$13.0b
Excluding the absence of contribution from a bi-annual air show, PBT would
have risen by 5% yoy. We are encouraged by the growth in its orderbook and
raise our target price by 9% to S$4.50. Maintain HOLD. Entry price is S$4.10.
ST Engineering Ltd – Results (Philips) Recommendation: Accumulate
Previous close: S$4.37
Fair value: S$4.50
Net income of S$134.0mn (-0.3%y-y).
Record high order book of S$13.0bn.
Positive full year guidance maintained.
Maintain Accumulate with unchanged TP of S$4.50.
DBSV- ST Engineering’s 1Q13 net profit of S$134m is in-line with
estimates, after adjusting for one-off items. STE announced a
record order book of S$13bil as of end-1Q13, up from
S$12.1bil at end-FY12, as they took in big orders in 1Q13.
Our analyst assumes YTD order wins to be S$2bil in FY13,
which is about half the figure recorded in FY12. This
underpins steady 6% growth in earnings over FY13/14.
Operating cash flow is strong, gross cash levels exceeded
S$2bn and future dividends appear secure. Maintain BUY
with higher TP of S$4.80 (prev. $4.40).
What is the news?
STE reported net profits of S$134.0mn in 1QFY13 on sales of S$1,544.7mn. Revenue was little changed on year as higher sales from other segments were offset by a 6% decline in sales for the Electronics division. Profit growth was the strongest at the Aerospace segment as the division benefitted from a 2.6% improvement in PBT margins. Management guided for higher revenue and comparable PBT in 1H2013 compared to 1H2012, while maintaining their full year guidance for higher revenue and PBT.
While the results were slightly disappointing as compared to the same period last year, we believe that seasonal contributions from the biennial Singapore Airshow did create a higher basis for comparison. By maintaining their guidance of profit growth for the full year, management have implicitly guided for a strong set of 2HFY13 performance.
We expect a neutral stock reaction to the results and maintained our Accumulate rating and TP of S$4.50. With our assumption of a 90% dividend payout, we expect the stock of STE to yield an attractive 4.1% in FY13E.
Source: PhillipCapital Research - 8 May 2013
STE reported net profits of S$134.0mn in 1QFY13 on sales of S$1,544.7mn. Revenue was little changed on year as higher sales from other segments were offset by a 6% decline in sales for the Electronics division. Profit growth was the strongest at the Aerospace segment as the division benefitted from a 2.6% improvement in PBT margins. Management guided for higher revenue and comparable PBT in 1H2013 compared to 1H2012, while maintaining their full year guidance for higher revenue and PBT.
How do we view this?
While the results were slightly disappointing as compared to the same period last year, we believe that seasonal contributions from the biennial Singapore Airshow did create a higher basis for comparison. By maintaining their guidance of profit growth for the full year, management have implicitly guided for a strong set of 2HFY13 performance.
Investment Actions?
We expect a neutral stock reaction to the results and maintained our Accumulate rating and TP of S$4.50. With our assumption of a 90% dividend payout, we expect the stock of STE to yield an attractive 4.1% in FY13E.
Source: PhillipCapital Research - 8 May 2013
Singapore Technologies Engineering (ST Engg) reported net profi t down 0.3% for the 1Q13 to $134mil, despite revenue up 0.2% to $1.54bil. EPS was 4.34 cents.
Some $3.6bil of the order book will be delivered over the course of this year. Cash and cash equivalents ‐ including funds under management ‐ totalled some $2.5bil. Advance payments from customers worked out to $2bil.
Alternative scenario: the downside breakout of 4.32 would call for 4.2 and 4.13.
Our pivot point stands at 4.32.
Our preference: the upside prevails as long as 4.32 is support.
Alternative scenario: the downside breakout of 4.32 would call for 4.2 and 4.13.
Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the
Trend Spotting| 03 May 2013
Singapore Tech Engineering
Singapore Tech Engineering (ST Engg) is moving on a strong uptrend, its 20, 40 and 100 day MAs are all sloping up. The commodity channel index (CCI) is now overbought and so far, the pullback has been very shallow. The CCI is now above 100 and is overbought. One may consider buying when the CCI drops to the oversold level and turn up again. There were 3 previous occasions of such since June last year. The immediate support for this stock at $4.35. In April-13, it secured $480 million worth of orders in the Aerospace industry.
Weekly Chart of ST Engrg
No sign of retracement. Who are the buyers??? Company buy back??? 
Technically and Fundamentally ST Engineering does not look like an attractive stock for long term investing base on current price.
http://mystocksinvesting.com/singapore-stocks/st-engineering/st-engineering-wave-5-ending-soon/
Singapore
Daily
ST Engineering: Defence’s Turn In The Limelight Buy, TP $4.4
We reiterate our BUY call on ST Engineering (STE), as a positive defence
business outlook lends support to the thesis that it should trade at a
premium to its historical average.
Two of STE’s largest contracts announced to-date have been derived from
its defence business, and both from its Marine arm. We continue to see
healthy defence expenditure trends both in terms of Singapore (CAGR 4%)
as well as from STE’s overseas customers (CAGR 4-5%).
We believe STE’s 1Q13 orderbook will set yet another record (~SGD13b),
providing the earnings visibility that would catalyse its share price
appreciation. Our target price of SGD4.40 is pegged at 21.6x FY2013 PER,
1 SD above its historical average. Investors who own the stock before
Ex-Div on 26 Apr will stand to enjoy SG 13.8 cts / share of dividends
(translating to ~3.3% yield). ... Last Done: $4.23 ...
Hi,
Anyone know why is it not doing well? Seems like going downhill faster than inching up.
Regards
ST Engineering said its aerospace arm has injected new capital, which adds up to the total share capital of $10.3 million, in an associated engine asset management company.
Anyone knows the ex-div date?
This stock exploded !!
Or may be ST Eng is still at Wave 3. Your Wave 4 could be subwave of Wave 3. Wave 4 seems has not form yet as the price has not dip sufficiently as Wave 2 which has touch 200MA.
marubozu1688 ( Date: 13-Jan-2013 23:34) Posted:
|
... wave 5 itself consist of 5 sub-waves ...
If according to yr TA, it is now on Wave 7.
marubozu1688 ( Date: 13-Jan-2013 23:34) Posted:
|
Last Year div in April = 4+8.5 c
This Year div in April = 4 +9.8 c.
Good stock to hold.
ST Engineering on Friday said its US shipyard, VT Halter Marine, Inc. has won a shipbuilding contract from Bouchard Transportation Co Inc, its long-time partner since the 1970s.
The contract was for building an articulated tug barge unit to transport liquid petroleum. Construction will begin in April 2013 at VT Halter Marine's Pascagoula facility, with delivery scheduled in mid 2015.
The contract comes with an option for an additional unit which has a validity of 60 days from the contract date.
ST Engineering told BT that it was not able to disclose the value of the contract.
ST Engineering on Friday posted a 9 per cent increase in profit attributable to shareholders of S$576.2 million for the full year ended Dec 31, 2012.
It did not provide separate figures for its fourth quarter.
Full-year revenue climbed 6 per cent over FY2011 to S$6.4 billion, as all sectors reported higher revenue except for its land systems sector which registered comparable revenue.
The fourth quarter saw group revenue increase 12 per cent quarter-on-quarter to S$1.7 billion, as revenue contribution from all sectors rose between 6 per cent and 28 per cent, it said.