Here's an update to the following postings, BCT , BCT Part; II and BCT III
BCT announced its earnings last Friday. And yes, it still isn't a pretty sight.
And besides the lack of earnings issue, the company's balance sheet is deteriorating as well.
And it's no wonder why the stock is getting punished.
Makes me wonder about all the bullish projections made by HwangDBS and KN mentioned in the posting, BCT III .
Jun 8th, 2007, from HDBS
- Cheap stock. With 3-year CAGR of 40%, BCTT shares are trading at only 5.0x FY08F EPS. We believe it should be worth 8x FY08 EPS or RM1.70/share, which implies a very conservative 0.2x PEG.
- Maintain BUY with a revised 12-month target price of RM1.56 (+30.0%) based on a FY08 P/E of 10.0x (2-year (FY06-FY08) PEG ratio of just 0.52x). BCTT’s FY07 and FY08 net profit growth of 45.9% and 38.6% y-y remain respectable despite our slight exchange rate driven earnings downgrades. At RM1.03, BCTT shares are trading at highly attractive FY07 and FY08 P/E of 8.8x and 6.6x, respectively.
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2 comments:
Dear Moola,
http://img2.freeimagehosting.net/image.php?e2dda892fb.jpg
The above is the spreadsheet i have done on carotec, a mesdaq company too.
I see that the Loan is exploding. The loan column consists of Banker Accpetance, OD, Current TL, and Non-current TL. Banker Acceptance has been on the increase Q by Q.
Could you please enlihghten me on Banker Acceptance and its' effect on profit and liabilities?
Thank you in advance.
My Dearest Wanderer,
Bankers Acceptance is a type of loan, a form of trading facilities granted by a bank to a company and in most cases, it 'should' help a company out.
However, there are exceptions.
Badly managed companies comes to mind - for they can easily these loan facilities for the wrong reasonings.
rgds
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