Home Capital Broker's Calls

RHB expects Sheng Siong's earnings for FY2022 to be 9.7% lower amid easing Covid-19 restrictions

Felicia Tan
Felicia Tan4/11/2022 01:45 PM GMT+08  • 2 min read
RHB expects Sheng Siong's earnings for FY2022 to be 9.7% lower amid easing Covid-19 restrictions
Photo of one of Sheng Siong's supermarkets at Anchorvale Crescent: Albert Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

RHB Group Research analyst Jarick Seet has kept his “neutral” call on Sheng Siong as he expects the supermarket operator’s future sales and profitability to further normalise as economic activities resume.

Seet has also kept his target price unchanged at $1.51, based on its FY2022 P/E of 19x. Seet’s target price also represents an upside of 0% from the counter’s current share price.

Amid the easing Covid-19 restrictions and the transition into living with Covid-19 as an endemic, Seet expects Sheng Siong to post a 9.7% y-o-y decline in its earnings for the FY2022 ending December.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now