As pointed out by Morgan Stanley, the third quarterly property EBITDA of MGM CHINA (02282.HK) +0.900 (+3.727%) Short selling $1.52M; Ratio 2.124%
recorded an increased of 1% seasonally to HK$1.774 billion, which was
significantly higher than the market estimates. The EBITDA margin
expanded by 140 bps quarter-on-quarter to 28.8%. Morgan Stanley lifted
the projected EBITDA in 2014-15 by 5%. The target price of MGM was
increased from HK$26.5 to HK$28, reiterating the rating of Overweight.
This was mainly due to the strong execution, solid long-term prospect
and attractive valuation of MGM. The stock is trading at 14.8x of 2015
projected P/E which was the second lowest among Macau gaming shares.
CITIC Annual Net Profit Up 1.8% to $43.902B; Final Div $0.25 CITIC (00267.HK) -0.160 (-1.447%) Short selling $8.89M; Ratio 25.055% announced that for the year ended December 2017, net profit rose 1.8% yearly to $43.902 billion, with an EPS of $1.51. A final dividend of $0.25 was declared. Profit contribution from financial sector of the company amounted to $39.5 billion, up 3% yearly. CITIC Construction continued to make inroads securing projects, both domestically and internationally, particularly along the Belt and Road corridor.
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