WH Group’s 2019 Recovery on Track; Shares Fairly Valued
Narrow-moat-rated WH Group’s 2018 result matches our expectation with revenue up 1% and earnings down 17%. The large drop in profit was due to weak U.S. hog prices following the retaliatory tariffs on U.S. pork imports by China. We tweak our 2019 forecast to incorporate slightly higher hog and pork prices but our fair value is unchanged at HKD 8.10 after raising capital expenditure. We expect net income to grow by 26% in 2019 driven by a rebound in the fresh pork segment and we forecast five-yea...WH Group is an investment holding company. Through its subsidiaries, Co. operates its pork business through four segments. Packaged Meats is engaged in the production, wholesale and retail sales of low temperature and high temperature meat products. Fresh Pork is engaged in the slaughtering, wholesale and retail sales of fresh and frozen meat. Hog is enageged in hog farming. Others segment is engaged in the slaughter and sale of poultry, manufacture and sale of packaging materials, provision of logistics services, operate a chain of retail grocery stores, produce flavoring ingredients and natural casings, and sale of biological pharmaceutical materials.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.