NEWS BITES ASIAN MARKETS
Cal-Comp Electronics (Thailand) Public Co., Ltd. (SET:CCET), Thailand's 3rd largest electronic components company by market capitalisation, added 8.0 satang (or 2.2%) in the trailing week to close at THB3.76. The volume was 7 times average weekly trading of 40.7 million shares. Compared with the SET100 Index which rose 3.3 points (or 0.1%) in the week, this represented a relative price change of 2.0%. In the past week the market capitalisation has added THB326.2 million.
LONG-TERM RATING (FUNDAMENTALS)
The company paid a dividend of 16.0 satang in the last twelve months. The dividend yield is high at 4.3%.
Price/Earnings | 29.9x |
Price/Sales | 0.1x |
Yield % | 4.3 |
% Prem to Low | 58 |
Earning Yield % | 3.4 |
Price/NTA | 0.9x |
% Disc to High | 6.0 |
SHORT-TERM RATING (TECHNICAL)
Its short term rises have been combined with strong volume resulting in strong momentum rises over 1 day. Significantly its price of THB3.76 is at a premium of 30% to its 200-day moving average price of THB2.88. Its 52-week range has been THB4.0 to THB2.38; it is trading at a discount of 6% to its 52-week high and a premium of 58% to its 52-week low. THB1,000 invested a week ago is now worth THB1,022 of which THB22 is a capital gain.
Recommended stop loss: THB3.48
Present Value THB1000 (1 year) | 1461 |
1-week price change (%) | 2.2 |
P/EMAP50 | 1.1 |
Relative Strength (6M) | 56.7 |
1-month price change (%) | -1.6 |
# Hits (3m) 52-w High | 13 |
RELATIVE VALUATION INDICATORS - RVI - FUNDAMENTAL ANALYSIS
Bullish Signals:
- Price/Earnings of 29.9 versus sector average of 43.6 and market average of 20.5. We estimate the shares are trading at a current year P/E of 45.6 and a forward year P/E of 69.5.
- Price/Sales of 0.12 versus sector average of 0.5 and market average of 1.4.
- The Price to Book of 0.9 lower than average of 1.7 for the Total Thai Market. We estimate the shares are trading at a current year Price to Book of 0.9 and a forward year Price to Book of 0.8.
Bearish Signals:
- The earnings yield of 3.35% below 10-year bond yield of 3.592%.
- Return on Equity of 3.0% versus sector average of 3.9% and market average of 14.3%.
- Total Liabilities/ EBITDA of 14.9 is more than or equal to 5, this compares unfavourably with Joseph Piotroski benchmark of 5.
- Return on Assets of 0.9% versus sector average of 1.9% and market average of 3.2%.
- Return on Capital Employed of 4.9% versus sector average of 5.0% and market average of 15.3%.
- Dividend Yield of 4.3% (based on trailing 12 months dividends of 16.0 satang) versus sector average of 6.0% and market average of 2.4%. The company paid out a dividend of 16.0 satang in the past 12 months. The 10-year bond yield is currently 3.592%.
RELATIVE VALUATION INDICATORS - RVI - TECHNICAL ANALYSIS
Bullish Signals:- The price added 2.2% in the last week.
- This has been propped up by strong volume of 6.8 times average for the week.
- Compared with the SET100 Index which rose 0.1% for the week, this represented a relative price increase of 2.0% for the week.
- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, 41 times suggesting further upside. The 50-day EMAP has increased to THB3.52. An increase is another bullish indicator.
Bearish Signals:
- The price weakened 1.6% in the last month.
