ANGANG STEEL COMPANY

347
End-of-day quote. End-of-day quote  - 04/19
5.28HKD +3.53%

Angang Steel Company Limited : The trend should continue

04/08/2021 | 02:56am
Jordan Dufee
Senior Analyst

Strategy published on : 04/08/2021 | 02:56

long trade
Live

Entry price : 4.48HKD
Target : 6HKD
Stop-loss : 3.75HKD
Potential : 33.93%

Shares in Angang Steel Company Limited have recently benefitted from a regain of interest by market participants. The technical chart pattern suggests a continuation of the upward movement.
Investors have an opportunity to buy the stock and target the HKD 6.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● In a short-term perspective, the company has interesting fundamentals.


Strengths

● The company shows low valuation levels, with an enterprise value at 0.45 times its sales.

● Its low valuation, with P/E ratio at 10.36 and 9.47 for the ongoing fiscal year and 2022 respectively, makes the stock pretty attractive with regard to earnings multiples.

● The company is one of the best yield companies with high dividend expectations.

● Upward revisions of sales forecast reflect a renewed optimism among the analysts covering the stock.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.

● Over the last seven days, analysts have been revising upwards their EPS estimates for the company.

● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● Analysts covering this company mostly recommend stock overweighting or purchase.

● The stock is in a well-established, long-term rising trend above the technical support level at 2.99 HKD


Weaknesses

● According to Standard & Poor's' forecast, revenue growth prospects are expected to be very low for the next fiscal years.

● Prospects from analysts covering the stock are not consistent. Such dispersed sales estimates confirm the poor visibility into the group's activity.

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