reports
Sjm Holdings Limited: 2 directors
Two Directors at Sjm Holdings Limited sold/bought 39,580,000 shares at between 2.900HKD and 2.900HKD. The significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's dire...
Increased risk weighs on SJM HOLDINGS LIMITED, penalising its rating ...
The independent financial analyst theScreener just lowered the general evaluation of SJM HOLDINGS LIMITED (HK), active in the Gambling industry. As regards its fundamental valuation, the title still shows 2 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date March 11, 2022, the closing pr...
- Chelsey Tam
Morningstar | Lifting SJM’s FVE by 30% to HKD 11.60 to Reflect Highe...
We lifted our fair value estimate for SJM Holdings to HKD 11.60 from HKD 8.90 per share, due to our revised return on invested capital, or ROIC, assumption of Grand Lisboa Palace, or GLP. We think SJM is undervalued and the key catalyst is the opening of GLP. Our latest fair value implies an EV/EBITDA of 16.8 times for 2020, the first year of operation of GLP, and 12.9 times for 2021. We reckon SJM’s average EV/next-12-month EBITDA ranged bound between 3.1 times to 11.9 times in the past five ...
- Chelsey Tam
Morningstar | Lifting SJM’s FVE by 30% to HKD 11.60 to Reflect Highe...
We lifted our fair value estimate for SJM Holdings to HKD 11.60 from HKD 8.90 per share, due to our revised return on invested capital, or ROIC, assumption of Grand Lisboa Palace, or GLP. We think SJM is undervalued and the key catalyst is the opening of GLP. Our latest fair value implies an EV/EBITDA of 16.8 times for 2020, the first year of operation of GLP, and 12.9 times for 2021. We reckon SJM’s average EV/next-12-month EBITDA ranged bound between 3.1 times to 11.9 times in the past five ...
- Chelsey Tam
Lifting SJM’s FVE by 30% to HKD 11.60 to Reflect Higher ROIC for Gra...
We lifted our fair value estimate for SJM Holdings to HKD 11.60 from HKD 8.90 per share, due to our revised return on invested capital, or ROIC, assumption of Grand Lisboa Palace, or GLP. We think SJM is undervalued and the key catalyst is the opening of GLP. Our latest fair value implies an EV/EBITDA of 16.8 times for 2020, the first year of operation of GLP, and 12.9 times for 2021. We reckon SJM’s average EV/next-12-month EBITDA ranged bound between 3.1 times to 11.9 times in the past five ...
- Chelsey Tam
Morningstar | Pansy's Alliance with the Fok Family May Lead to Change ...
As one of six casino licence holders in Macau, SJM Holdings benefits from insatiable Chinese demand for gaming, underpinned by rising per capita disposable income in China. The additional supply by major casino operators in the next few years will increase higher-spending overnight visitors and revitalized appeal for Macau. With the completion of the Hong Kong-Zhuhai-Macau bridge and light railway transit in 2018, Macau's carrying capacity for tourists will increase. In addition, the neighboring...
- Chelsey Tam
Pansy's Alliance with the Fok Family May Lead to Change in Leadership ...
Narrow-moat SJM’s first-quarter adjusted EBITDA accounted for 31% of our full-year estimates, beating our estimates, while revenue is tracking towards our full-year estimate. The beat was helped by a HKD 57 million addition to adjusted EBITDA resulting from changes in accounting that now places lease expenses below the adjusted EBITDA line. We expect the same addition to adjusted EBITDA in the next quarter. Adjusted for the accounting change this quarter and the HKD 109 million one-off provisi...
- Chelsey Tam
Pansy's Alliance with the Fok Family May Lead to Change in Leadership ...
Narrow-moat SJM’s first-quarter adjusted EBITDA accounted for 31% of our full-year estimates, beating our estimates, while revenue is tracking towards our full-year estimate. The beat was helped by a HKD 57 million addition to adjusted EBITDA resulting from changes in accounting that now places lease expenses below the adjusted EBITDA line. We expect the same addition to adjusted EBITDA in the next quarter. Adjusted for the accounting change this quarter and the HKD 109 million one-off provisi...
- Chelsey Tam
Morningstar | Raising SJM’s FVE to HKD 8.90 Per Share; SJM is Fairly...
Narrow-moat SJM’s first-quarter adjusted EBITDA accounted for 31% of our full-year estimates, beating our estimates, while revenue is tracking towards our full-year estimate. The beat was helped by a HKD 57 million addition to adjusted EBITDA resulting from changes in accounting that now places lease expenses below the adjusted EBITDA line. We expect the same addition to adjusted EBITDA in the next quarter. Adjusted for the accounting change this quarter and the HKD 109 million one-off provisi...
- Chelsey Tam
Morningstar | Raising SJM’s FVE to HKD 8.9 Per Share; SJM is Fairly ...
Narrow-moat SJM’s first-quarter adjusted EBITDA accounted for 31% of our full-year estimates, beating our estimates, while revenue is tracking towards our full-year estimate. The beat was helped by a HKD 57 million addition to adjusted EBITDA resulting from changes in accounting that now places lease expenses below the adjusted EBITDA line. We expect the same addition to adjusted EBITDA in the next quarter. Adjusted for the accounting change this quarter and the HKD 109 million one-off provisi...
- Chelsey Tam
Raising SJM’s FVE to HKD 8.90 Per Share; SJM is Fairly Valued
Narrow-moat SJM’s first-quarter adjusted EBITDA accounted for 31% of our full-year estimates, beating our estimates, while revenue is tracking towards our full-year estimate. The beat was helped by a HKD 57 million addition to adjusted EBITDA resulting from changes in accounting that now places lease expenses below the adjusted EBITDA line. We expect the same addition to adjusted EBITDA in the next quarter. Adjusted for the accounting change this quarter and the HKD 109 million one-off provisi...
- Chelsey Tam
Morningstar | SJM Will See Higher Margin and Improved Competitiveness ...
As one of six casino licence holders in Macau, SJM Holdings benefits from insatiable Chinese demand for gaming, underpinned by rising per capita disposable income in China. The additional supply by major casino operators in the next few years will increase higher-spending overnight visitors and revitalized appeal for Macau. With the completion of the Hong Kong-Zhuhai-Macau bridge and light railway transit in 2018, Macau's carrying capacity for tourists will increase. In addition, the neighboring...
- Chelsey Tam
SJM Will See Higher Margin and Improved Competitiveness With the Openi...
We maintain narrow-moat SJM’s fair value estimate at HKD 7.7 per share. Adjusted EBITDA in the fourth quarter was HKD 846 million, up only 1% year over year and down 8% sequentially due to a HKD 109 million provision against a receivable from a gaming promoter at the satellite Casino Eastern. Excluding the provision, adjusted EBITDA would have grown 14% year over year and 4% sequentially. Net revenue in the fourth quarter was up 5% year over year and 2% sequentially. Dividend payout ratio for ...
- Chelsey Tam
Morningstar | SJM’s Fourth-Quarter Results Hurt by Provision and VI...
We maintain narrow-moat SJM’s fair value estimate at HKD 7.7 per share. Adjusted EBITDA in the fourth quarter was HKD 846 million, up only 1% year over year and down 8% sequentially due to a HKD 109 million provision against a receivable from a gaming promoter at the satellite Casino Eastern. Excluding the provision, adjusted EBITDA would have grown 14% year over year and 4% sequentially. Net revenue in the fourth quarter was up 5% year over year and 2% sequentially. Dividend payout ratio for ...
- Chelsey Tam
SJM’s Fourth-Quarter Results Hurt by Provision and VIP Market Share ...
We maintain narrow-moat SJM’s fair value estimate at HKD 7.7 per share. Adjusted EBITDA in the fourth quarter was HKD 846 million, up only 1% year over year and down 8% sequentially due to a HKD 109 million provision against a receivable from a gaming promoter at the satellite Casino Eastern. Excluding the provision, adjusted EBITDA would have grown 14% year over year and 4% sequentially. Net revenue in the fourth quarter was up 5% year over year and 2% sequentially. Dividend payout ratio for ...
- Chelsey Tam
Morningstar | Lisboa Palace Will Regain Market Share and Increase Marg...
As one of six casino licence holders in Macau, SJM Holdings benefits from insatiable Chinese demand for gaming, underpinned by rising per capita disposable income in China. The additional supply by major casino operators in the next few years will increase higher-spending overnight visitors and revitalized appeal for Macau. With the completion of the Hong Kong-Zhuhai-Macau bridge and light railway transit in 2018, Macau's carrying capacity for tourists will increase. In addition, the neighboring...
- Chelsey Tam
Lisboa Palace Will Regain Market Share and Increase Margin for SJM
Despite fears around a trade war and China's economic slowdown, the narrow-moat Macau gaming market’s competitive positioning and demand remain strong, and we believe the current weak sentiment presents a good buying opportunity for long-term investors. Our fair value estimate for Sands China is now HKD 45 per share (versus HKD 42 prior), for Galaxy Entertainment HKD 58 per share (versus HKD 54), for Melco Resorts $21 per share (versus $22), for MGM China HKD 20 per share (versus HKD 21.50 per...
- Chelsey Tam
Morningstar | Macau Gaming Undervalued for Long-Term Investors Amid W...
Despite fears around a trade war and China's economic slowdown, the narrow-moat Macau gaming market’s competitive positioning and demand remain strong, and we believe the current weak sentiment presents a good buying opportunity for long-term investors. Our fair value estimate for Sands China is now HKD 45 per share (versus HKD 42 prior), for Galaxy Entertainment HKD 58 per share (versus HKD 54), for Melco Resorts $21 per share (versus $22), for MGM China HKD 20 per share (versus HKD 21.50 per...
- Chelsey Tam
Macau Gaming Undervalued for Long-Term Investors Amid Weak Sentiment
Despite fears around a trade war and China's economic slowdown, the narrow-moat Macau gaming market’s competitive positioning and demand remain strong, and we believe the current weak sentiment presents a good buying opportunity for long-term investors. Our fair value estimate for Sands China is now HKD 45 per share (versus HKD 42 prior), for Galaxy Entertainment HKD 58 per share (versus HKD 54), for Melco Resorts $21 per share (versus $22), for MGM China HKD 20 per share (versus HKD 21.50 per...
- Chelsey Tam
Morningstar | The Opening of Lisboa Palace Will Help SJM Regain Market...
As one of six casino licence holders in Macau, SJM Holdings benefits from insatiable Chinese demand for gaming, underpinned by rising per capita disposable income in China. The additional supply by major casino operators in the next few years will increase higher-spending overnight visitors and revitalized appeal for Macau. With the completion of the Hong Kong-Zhuhai-Macau bridge and light railway transit in 2018, Macau's carrying capacity for tourists will increase. In addition, the neighboring...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.