reports
YEONG GUAN with less fundamental stars is reduced to Neutral
YEONG GUAN (TW), a company active in the Steel industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date March 8, 2022...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Short-term headwinds, long-term positive trend unchanged
​YGG’s share price has been weak for the past two months, reflecting the impact of its sales/earnings miss in 2Q16 and guidance for a shipment cut. We believe its earnings downside is already priced in and the stock should rebound in 4Q16 as its revenue momentum recovers. We also believe YGG’s long-term outlook remains positive due to the strong order backlog growth of its major clients. To reflect its guidance for a shipment cut, we lower our 2016/17F EPS by 14%/20% and TP to NT$215, base...
Minor impact from weak May sales
​YGG’s share price has underperformed recently. We believe this is mainly due to weak May sales (down 11% MoM & 14% YoY). However, we think impact on earnings will be limited as 1) a good portion of energy products (~1,000 tons) have been delayed and should be recognized in June, indicating minimal impact QoQ; and 2) 2Q16F GM will see upside (36% vs. our previous estimate of 35%) given higher efficiency of the plants and economies of scale compared to 1Q16. We suggest investors focus on GM/e...
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