its time to buy below fair value price again!!buy buy buy! surprise coming soon
August 18, 2017 08:11 am MYT
KUALA LUMPUR (Aug 18): CIMB IB Research has maintained its “Hold” rating on Aemulus Holdings Bhd at 60 sen with a higher target price of 69 sen (from 53 sen) and said the company’s 9MFY9/17 core net profit beat house/Bloomberg consensus estimates, at 85%/104% of FY17F forecasts, due to higher-than-expected tester volume shipment in 3QFY9/17.
In a note Aug 17, the research house said Aemulus reported a core net profit of RM5.4 million in 9MFY9/17, compared to a RM500,000 core net loss in 9MFY9/16, due to higher RF and enterprise storage tester shipment volumes.
“We raise our FY17-19F EPS by 15-19% to reflect higher tester shipment volumes.
“We expect stronger demand for RF tester in 4QFY17, driven by production ramp-up ahead of new flagship smartphone model launches and a new customer win in China.
The Co just announced in Q4 17 a net profit of RM RM2.097 Mil and FY17 full year net profit of RM 7.551 Mil giving an EPS of 0.48 Sen for the Qtr and FY 17 of 1.42 Sen. At 66 Sen closing today, with FY 17 EPS of 1.42 Sen, it is trading at PE 38.37. The forward PE is 26.4 based on below aggressive assumption of growth of 30% in net profit. Its market Capitalisation is RM 289.6 mil for a Co making net profit of RM 7.551 mil. Conclusion Overvalued and no proven deliveries since 2012. If you are buying this Co , will you pay RM289.6 million.
Assumption for Projected 2018 When I used the Q4 EPS of 0.48 X 4 with a 30% growth (an aggressive projection) to get my projected FY 18 EPS of 2.496 Sen, let say 2.5 Sen. Thus the forward PE of 26.4 based on aggressive growth of 30% from FY Q4 net profit of RM2.097 X 4 X 130% = a net profit of RM10.9 mil, giving a projected FY 18 EPS of 2.5 Sen. Historically, the Co maximum net profit was RM 9.067 Mil in 2015. In my view a growth of 30% in Net profit is also a long shot.
My Comment on 23 July 2017 to various Telegram Groups
Aemulus 1H EPS 0.64. Q2 EPS 0.56 Sen. Highest EPS achieved in 2015 2.56 Sen. Historically never achieved more than 1 Sen per Q. Assuming EPS for Q3 and Q4 of 1 Sen per Q. Projected EPS 2.64 and at current price of 62, it is trading at forward PE 23.48. My view not attractive.
My Comment on 12 September 2017 to various telegram Groups
On Aemulus beware that on 12 Sept, its share price moved up from 59 Sen to 65 Sen. From 13 Sept to 15 Sept, three of the directors orchestrated sales 2.5 million of their shares ranging from 63 to 65 Sen and price retreated to 62. I have warned that Aemulus is overpriced as at 62 Sen it is trading at forward PE 34.4 based on EPS for 9 mths to 30 June plus Q3 EPS of 1.8 Sen ((1.24 +0.56) .Just a cautious reminder.
by seeing qoq, definitely you say gg. this shows you are truly short-sighted. yoy has tell something meaningful. those who said no good, pls give up today and I sure you will chase it back very soon.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
PrincessPi
19 posts
Posted by PrincessPi > 2017-11-15 12:05 | Report Abuse
correction and weakness of KLCI, 476 stocks dropping at this moment