Stocks in the news (auct, erw, m, mint, synex) 10.07.24
AUCT sees positive earnings momentum carry thru 2H as finance institution purging repossessed vehicles before end of year, target FY vehicles traffic thru auction yard w/in 200k-250k units.
Comment: Earnings is not going to be an issue for AUCT for the next 2 years.
ERW to open talk with landlord, The Syndicate of Thai Hotels and Tourists Enterprises Limited, a co., under Treasury Dept, Dhanarak Asset Development, to find resolution on land rent extension for Grand Hyatt Erawan BKK after 30 year contract expired in 2021 and renewed on yearly basis since then.
Comment: It’s going to be expensive…
M: local fund, BBLAM, cuts holding by 0.2095% to 4.7949% on Jul 8.
Comment: That’s a bit late to cut things…M is starting to become attractive at this price…
MINT’s QSR unit, Pizza Company, launches single serve pizza (BiTE) aims to capture dine alone customers.
Comment: I presume this is one way to get a higher GPM. Or is the consumer so dead that they can only afford a slice…
SYNEX upbeat outlook from surged demand for IT hardware replacement for AI compatible, Apple Intelligence – PC AI fuel growth, target FY revenue growth no less than 10%.
Comment: Oh this game is back? + the digital wallet story?
Paul A. Renaud
AUCT (9.55) after the mkt closed on Friday just reported another outstanding earnings report.
2 Q. earnings were up 27.8% to 0.15 Baht per share, vs. 0.12 Baht the same 2nd Q last year. (Remember 4th Q’s are seasonably its strongest). AUCT has been firing on all cylinders for some time…and along with this strong earnings announcement just declared a 0.35 Baht interim dividend, or an increase of 36% as compared to last years 0.26. The total 2024 dividend so is 0.35 + 0.37 = 0.72 Baht, or for a current dividend yield of 7.5%. Hence one of the SET highest dividend payer. AUCT will likely net profit some 400 mill. Baht this year, (0.80 Baht per share) a doubling from 4-5 years ago when I first here table pounded on it. 🙂 Its 2024 year p/e is so barely around 12. My own long :Buy view: -and then some- so maintained.
Pon
Fully agree and frustrated that the share price has yet to reflect this.
Paul Renaud
Well, AUCT (10.10) share price is starting to reflect it’s strong earnings today…plenty had time to accumulate it below 10, as I so strongly have viewed for long.
Pon
Let us hope this continues.