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....
The independent financial analyst theScreener just requalified the general evaluation of 51JOB INCO. (US), active in the Business Training & Employment Agencies industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date ...
JOBS will report 2Q20 results on August 10th after the markets close followed by a 9pm EST conference call. Based on our data and calculations, we believe 51Job’s revenue in 2Q20 is likely to be within its guidance range of RMB775M – RMB825M. Overall, we believe the worst time caused by the COVID-19 is behind us, and JOBS is on the trend of recovery along with the underlying economy.
The post Covid-19 recovery in China has been orderly and steady since February 18, 2020. Our data showed that about 70% of labor forces have returned to work and about 100% of business activities have resumed operations. Specifically, Eastern China including Shanghai, Zhejiang, Jiangsu, Anhui and Shandong led the recovery; these regions are where JOBS operates most of its business. Therefore, the company benefits from such relative rapid recovery. We are positive on JOBS’ performance in 1Q20. Ba...
JOBS will report 3Q19 results on November 14th after the markets close followed by an 8pm EST conference call. We are positive on JOBS’ performance in 3Q19. Based on multiple sets of data, we believe China’s economy is reaching its bottom. We cannot predict when the economy is likely to recover; however, we believe it may be hard to go further down. Based on our data and calculations, we believe 51Job’s revenue in 3Q19 is likely to be within the company’s guidance range of RMB 915M – RMB 955M.
China’s economy is continuing its weaker trend with PMI below 50 in May 2019 following the same situation in April 2019. Such weakness in the underlying economy continues to put pressure on the job front. It has been the fourth consecutive quarter that the number of new jobs added nationwide was lower than the same time last year. H. Data Flash – 51job Inc. – May & 2Q19E
KEY HIGHLIGHTS Sector Plantation: 1Q19 results review: Earnings hit by lower ASP and lower yoy FFB production due to higher base; companies guiding strong production in 2H19. TRADERS’ CORNER Wilmar International (WIL SP): Trading SELL AEM Holdings (AEM SP): Trading SELL
JOBS will report 1Q19 results on May 9th after the markets close followed by a 10pm EST conference call. Based on our data and model, we believe 51Job’s 1Q19 net revenue is likely to be above consensus at RMB954.2M. As China’s PMI resumed above 50, we do believe the worst time in China’s economy has passed. As a company with its business closely related to the underlying economy, we believe that JOBS is likely to benefit from the upcoming growth. Therefore, we are optimistic for its outlook.
We are negative on JOBS into 4Q18. China’s economy is still in the process of deleveraging, which resulted in the decline for job demands. The number of newly posted listings as well as the number of unique employers on JOBS platform declined. Based on our data and calculations, we believe 51Job’s 4Q18 revenue is likely to be in-line or slightly lower than consensus at RMB1,111.1M.
JOBS will report 3Q18 results on November 8th after the markets close followed by an 8pm EST conference call. Based on our proprietary data and calculations, we believe JOBS is likely to report 3Q18 revenue at about RMB 943M (under the new accounting method), topping the high-end of its guidance.
JOBS will report 2Q18 results on August 2nd after the markets close followed by a 9pm EST conference call. Based on our proprietary data and calculations, we believe JOBS is likely to deliver revenue better than the consensus expectation at RMB879.4M as well as our estimate at RMB867.4M.
Strength to strength, BPO driving growth in Other HR Better than expected. Revenue in Q3 rose to 720 MM RMB (+22% YoY), beating our expectation of 695 MM RMB, and 51job’s non-GAAP EPADS was 0.50 vs. our 0.48 USD estimate. Echoing recent quarters, both segments were performing well, a favorable backdrop for the seasonal surge in Q4. More growth in the pipe. Recent M&A activities are slowly beginning to bear fruit, which we think will be increasingly evident in Q4. The outlook for the Other HR s...
Notable themes: • Tech continues to lead. Tech's long-term leadership status remains intact. This week's screen, which is abundant in tech names, reinforces this position. Another talking point: Taiwan recent broke out above a secular resistance level to all-time highs. Charts highlighted include: MediaTek (2454-TW), Compeq Manufacturing (2313-TW), Quanta Computer (2382-TW), and Pegatron (4938-TW). • Consumer Discretionary is strengthening. Aside from tech, consumer discretionary is the on...
Notable themes: • EM Sector Overweights: Led by Tech, cyclicals continue to lead. Consumer discretionary is this year's second-best performing sector, as it stages a swift, relative recovery, reversing last year's underperformance. Financial still exhibit healthy technicals. Lastly, energy and materials are working through a weak spell, both testing key relative strength support levels (see next page). • King Tech: Tech continues to lead the EM advance. The Sector's relative strength trend...
51job’s main businesses, Online recruiting and Other human resources services, are poised to enter a growth phase in FY2016. The company’s Online recruiting segment now includes exposure to the early, mid-career, and experienced professional segments of the market following M&A activity in FY2015. With the broadened offering, the company is continuing its emphasis on adding new customers, and also boosting average spending through cross-selling its other services. For the Other HR services seg...
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