A director at Q & M Dental Group (Singapore) Ltd bought 2,009,000 shares at 0.329SGD and the significance rating of the trade was 63/100. 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 directors over the...
Q & M DENTAL GROUP (SG), a company active in the Health Care Providers industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 2 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date November 19, 2021, the closing price wa...
Q&M’s 3Q21 earnings of S$9.7m (+57% yoy) were in line with expectations, 9M21 core earnings met 73% of our full-year estimate. Both dental and medical laboratory delivered robust results. Q&M added 14 new dental outlets (+12% yoy) and has increased its effective interest in Acumen from 51% to 67%, indicating a strong vote of confidence. We are positive on Q&M’s outlook given its robust expansion plan and strong demand for testing services. Maintain BUY and target price of S$0.78.
KEY HIGHLIGHTS Results ComfortDelGro Corporation (CD SP/BUY/S$1.56/Target: S$1.99): 3Q21: Underwhelming results but new regulations poised to boost earnings. Frasers Logistics & Commercial Trust (FLT SP/BUY/S$1.49/Target: S$1.79): 2HFY21: Benefitting from revaluation gains and lower cost of borrowings. Q & M Dental Group (QNM SP/BUY/S$0.575/Target:S$0.78): 3Q21: Robust results and positive outlook; confidence in increased stake in Acumen. SingTel (ST SP/BUY/S$2.56/Target: S$2.75): 1HFY22: Be...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
REGIONAL Sector Plantation: Indonesia’s Ministry of Finance has issued a revised regulation on palm oil export levies, which will take effect from Jul 21. GREATER CHINA Results China Gas (384 HK/HOLD/HK$25.30/Target: HK$27.50): FY21: Weaker-than-expected earnings; outlook clouded by explosion. Downgrade to HOLD. Update JD.com (JD US/BUY/US$78.23/Target: US$100.00): Transforming into a supply chain-based technology platform; solid growth ahead. Shariah Gems Virtual Conference ENN Energy (2688 HK...
Q&M is on track for record core earnings in 2021 (+68% yoy) as its dental business delivers robust growth from aggressive opening of new dental outlets and strong local demand. Also, Q&M has a new growth engine from the COVID-19 testing and test kit business. Currently, the stock is trading at 1SD below its long-term mean of 16x 2022F PE and offers a dividend yield of 5.2%. We initiate coverage with a BUY and a target price of S$0.94 pegged to 20x 2022F PE (mean PE).
KEY HIGHLIGHTS Sector Regional Plantation: Indonesia’s Ministry of Finance has issued a revised regulation on palm oil export levies, which will take effect from Jul 21. Initiate Coverage Q & M Dental Group (QNM SP/BUY/S$0.77/Target:S$0.94): Twin growth engines from dental and COVID-19 testing businesses. TRADERS’ CORNER Sunpower Group (SPWG SP): Trading Buy Mapletree Industrial Trust (MINT SP): Trading Buy
Q&M is on track for record core earnings in 2021 (+68% yoy) as its dental business delivers robust growth from aggressive opening of new dental outlets and strong local demand. Also, Q&M has a new growth engine from the COVID-19 testing and test kits business. Currently, the stock is trading at 1SD below its long-term mean of 16x 2022F PE and offers a dividend yield of 5.2%. We initiate coverage with a BUY and target price of S$0.94 pegged to 20x 2022F PE (mean PE).
Q&M is an industry leader which has proven its ability to grow. Consensus believes its recent venture into the COVID-19 test kit business could provide upside surprise to earnings, while the core dentistry and medical services continue to grow, even during the pandemic. The sale of stake in dental equipment manufacturer, Aidite, could result in a special dividend of 2.2 S cents (4.6% yield), assuming a full payout of the net proceeds. Bloomberg consensus target price is S$0.54.
KEY HIGHLIGHTS Results Singapore Airlines (SIA SP/HOLD/S$4.17/Target: S$4.00): 3QFY21: Qoq Improvement supports gradual capacity addition. Upgrade to HOLD. Small/Mid Cap Highlights Q&M Dental Group (QNM SP/NOT RATED/S$0.48): Largest private dental provider; special dividend and test kit business underappreciated. TRADERS’ CORNER Singapore Press Holdings (SPH SP): Trading Buy ISDN Holdings Ltd (ISDN SP): Trading Buy
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