ComfortDelGro

[winston]

not vested

Singapore Hot Stocks-ComfortDelGro up on hopes of growing ridership

SINGAPORE Oct 25 (Reuters) - Shares of Singapore's taxi and bus operator ComfortDelGro Corp Ltd rose as much as 3.7 percent on Tuesday to over a two-month high, on expectations that its earnings will be boosted by growing ridership of public transport in the city-state.

At 0231 GMT, shares of ComfortDelGro were 2.6 percent higher at S$1.385 with 967,000 shares changing hands.

"Investors may be buying into the stock now in anticipation of good earnings results, which they will announce on 14 November," said a local trader.

ComfortDelGro is expected to benefit from the Singapore government's push to encourage more people to use public transport and cut the supply of certificates of entitlements(COE), which would make car ownership expensive.

"We see better penetration for public transport in Singapore and expect ComfortDelGro to benefit from ridership growth and lower fuel cost pressures," said Lee Wen Ching, an analyst at CIMB Research.

The company's relatively stable earnings growth and attractive yield of about 4 percent is also a draw for investors, analysts said.

Source: Reuters

[winston]

ComfortDelgro's Q3 net profit increases by 12.5%

ComfortDelgo Corporation Limited on Monday announced that its net profit for third quarter ended Sept 30, 2011 increased by 12.5 per cent to $69.1 million from a year ago.

Revenue increased by 6.5 per cent to $877 million from a year ago.

Source: Reuters

[winston]

not vested

Public transport operator ComfortDelGro said its first quarter net profit rose 6.8 percent to S$53.5 million ($42.6 million), helped by higher revenue that benefited from a stronger Australian dollar and Chinese yuan.


Source: Reuters

[winston]

not vested

STOCKS NEWS SINGAPORE-OCBC upgrades ComfortDelGro to 'buy'

OCBC Investment Research upgraded ComfortDelGro Corp Ltd to 'buy' from 'hold' and raised its target price to S$1.90 from S$1.60, citing better prospects for the transport operator in 2013.

ComfortDelGro shares were up 1.15 percent at S$1.76 on Wednesday. The stock has gained 24 percent this year, outperforming the 18 percent gain in the broader Straits Times Index <.FTSTI>.

ComfortDelGro's bus operations in Singapore are seen turning around gradually in fiscal year 2013 on the back of the Bus Services Enhancement Programme (BSEP) and its related subsidies, as well as the likelihood of a fare hike, OCBC said.

Under BSEP, the Singapore government is partnering with bus operators to increase bus capacity and improve services.

Fuel prices are likely to remain subdued in 2013 and with substantial hedges in place, ComfortDelGro is well-positioned to benefit from any additional dips, OCBC said.

The Downtown Line project in Singapore is expected to boost ComfortDelGro's ridership, OCBC said, adding that acquisitions and strategic moves overseas will allow the company to continue enjoying stable revenue and operating profit contributions.

Source: Reuters

[winston]

not vested

Transport operator ComfortDelGro posted a 5.6 percent jump in full-year net profit , to S$248.9 million from S$235.6 million a year earlier, with broad-based growth in revenue from nearly all units.


Source: Reuters

[winston]

not vested

Comfort dropped 12% ...

SLF confirms block sale of ComfortDelgro shares

The Singapore Labour Foundation (SLF) on Thursday confirmed earlier media reports that it has entered into a block trade agreement to sell 170 million shares in, or about 8 per cent of, ComfortDelGro Corp.

"SLF has a broad portfolio of investments which it reviews and rebalances on an on-going basis," it said.

"Upon completion on May 29, 2013, the sale will reduce its total shareholding interest in ComfortDelGro from approximately 12.7 per cent to 4.7 per cent."

Media reports had put their selling price at S$1.94 per share, amounting to a total of S$329.8 million.

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Still looks expensive

Dividends 0.064 /1.925 = 3%

PE 17; SMRT's PE = 25

Margins: 10%

Revenue: 5% Growth

P/B 2

Target: 2.25 ( OSK );

http://www.remisiers.org/cms_images/res ... atters.pdf

[winston]

not vested

Valuation. CDG offers a unique defensive stock exposure with diversified earnings and geographical exposure.

With continued weakness on the economic front, we expect sustained preference for defensive stocks in the year ahead.

We value CDG using a FY14E P/E of 18X and derive a TP of SGD2.33.

Upgrade to Buy.


Source: Kim Eng

http://www.remisiers.org/cms_images/res ... KE_Buy.pdf

[winston]

not vested

Oct 30, 2014

Comfort Delgro (Add, TP$2.88).

The company has hedged ~50% of its FY15 fuel costs but we still think that the lower oil prices will be positive for this transport company.

Source: CIMB

[winston]

not vested

3Q14 results for ComfortDelgro in line, net profit grew 5.3% to S$80.8m.

Steady performance expected as we enter 4Q; 9M14 forms 78% of our full-year forecast (9M13: 77%).

The stock is trading at 19.1x FY15F PE, which is c.1.5 standard deviations above historical average.

Maintain HOLD, target price kept at S$2.71.

Source: DBS

[winston]

not vested

ComfortDelGro - Punching above its weight

CD’s 3Q14 and 9M14 results were slightly ahead of our expectations, with net profits meeting 29% and 79%, respectively, of our FY14 forecast due to lower
minority interest leakages.

We increase our FY14 EPS by 4% to reflect that, and raise our DCF-based target price (6.5% WACC) in anticipation of better earnings visibility beyond FY16.

Catalysts include reduced capex and overall improvements in CD’s cashflow profile and balance sheet allowing it to boost its overseas growth to support progressively higher dividends.

Reiterate Add.

Source: CIMB