This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Monday, May 20, 2013
Allianz- top-line & bottom-line still growing
Result Update
For QE31/3/2013, Allianz's net profit increased by 20% q-o-q or 1% y-o-y to RM54 million whiel revenue increased by 1% q-o-q or 17% y-o-y to RM862 million. Bottom-line improved q-o-q due to higher profit before tax from the general insurance operations.
Table: Allianz's last 8 quarterly results
Chart 1: Allianz's last 29 quarterly results
Valuation
Allianz (closed RM9.50 on May 17, 2013) is now trading at a PE of 14.4 times (based on last 4 quarters' EPS of 66 sen). With a CAGR of 17%, Allianz's PEG ratio is 0.85 time. Thus Allianz is deemed fairly attractive, with upside of 20% (or commanding a PE of 17 times).
Technical Outlook
Allianz is still in an uptrend, with immediate support at the psychological RM9.00 mark and then at the horizontal line of RM8.50. Immediate resistance will be the psychological RM10.00 mark.
Chart 2: Allianz's weekly chart as at May 17, 2013 (Source: quickcharts)
Conclusion
Based on improving financial performance, fairly attractive valuation & positive technical outlook, Allianz is expected to continue to rise.
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, Allianz.
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