The Tyhoon No.8 reduces to No.3 before noon so I have to go to work. This is Central Hong Kong. I took some photos along my way. My office is somewhere on the 20th Floor in the middle of the photo.
Cosco International 517.HK
June 25, 2008 · Leave a Comment
Today is typhoon no.8 in HK and so I can stay home and do some stock mining.
When I look at Cosco, I cannot believe the PE is 2.24. I thought there must be a mistake. Cosco is a very good company and PE used to be very high.
In the next few days I will dig deeper and write a few more articles.
| Cosco 517.HK | Cheung Kong 1.HK | |
| Issued Capital shares | 1,479,000,000 | 2,316,000,000 |
| Share price | 3.95 | 112.1 |
| Market Capital | $5,842,050,000 | $259,623,600,000 |
| Share holders funds | $4,901,000,000 | $90,156,000,000 |
| Share capital | $147,000,000 | $1,149,000,000 |
| Share premium and other reserves | $4,754,000,000 | $89,007,000,000 |
| Earnings | 1.759 | 11.9499 |
| PE | 2.245594088 | 9.380831639 |
| 08 earning estimate | ||
| Low | 0.43 | 4.58 |
| High | 0.78 | 8.41 |
Note.
1) Market capital of Cosco is just 30% higher than its share holders funds where as Cheung Kong is 250%.
2). Earning estimates for both companies are low.
3). If we take the low Cosco earning estimate of 0.43 then PE=11. Which is still cheap.
From a glance Cosco is very cheap. I will dig deeper to find out why investors are unfavouring this company which had a huge run up to its price.
Categories: Cosco
