Results Update
For 3-month ended 20/11/2012, Aeoncr's net profit increased by 9% q-o-q or 38% y-o-y to RM35 million while revenue increased by 85 q-o-q or 35% y-o-y to RM121 million. The improvement was attributable to growth in receivables & increased financing transaction volume.
Table: Aeoncr's last 8 quarterly results
Chart 1: Aeoncr's last 22 quarterly results
Valuation
AeonCr (closed at RM12.08 yesterday) is now trading at a PE of 14 times (based on last 4 quarters' EPS of 86.46 sen). At PE of14 times, AeonCr looks fairly valued. However, with CAGR of 18% over the past 3 years, its PEG ratio is 0.8 time. This means that the stock has room to appreciate- potentially another 25% to RM15.00 (until PEG ratio of 1 time).
Technical Outlook
AeonCr is still in an uptrend. Its immediate horizontal support is at RM11.00-11.10.
Chart 2: Aeoncr's weekly chart as at Dec 20, 2012_11.30am (Source: Quickcharts)
Conclusion
Based on satisfactory financial performance, reasonably attractive valuation & positive technical outlook, I revised the rating for AeonCr back to a good BUY for long-term investment.
Note:
In
addition to the disclaimer in the preamble to my blog, I hereby confirm
that I do not have any relevant interest in, or any interest in
the acquisition or disposal of, AeonCr.
No comments:
Post a Comment