Stock Name: Ryobi Kiso
Company Name: RYOBI KISO HOLDINGS LTD.
SIAS Research in an Aug 31 research report says: "Full year revenue grew by 2% to $123.3 million, while PATMI fell to $7.8 million versus $27.4 million in FY2010. The decline was due to stiff competition and higher operating costs.
"Quarterly net margin improved by 1% point q-o-q to 3.6% in 4Q FY2011. It bought back 2.2% of its free float (shares) over January - June 2011 and has declared a dividend of 0.6 cents for the year, translating to a yield of 4.3% as of Aug 29.
"Ryobi's order book for the past few quarters has been relatively stable, with a net level of $78.1 million at the end of 4Q FY2011. We expect Ryobi to earn revenue and PATMI of $132.5 million and $9.1 million respectively in FY2012F. Based on a price of 13.8 cents, Ryobi trades at 0.9x price to NAV. Intrinsic value of 23 cents. MAINTAIN INCREASE EXPOSURE."
Company Name: RYOBI KISO HOLDINGS LTD.
| Research House: SIAS | Price Call: BUY | Target Price: 0.23 |
SIAS Research in an Aug 31 research report says: "Full year revenue grew by 2% to $123.3 million, while PATMI fell to $7.8 million versus $27.4 million in FY2010. The decline was due to stiff competition and higher operating costs.
"Quarterly net margin improved by 1% point q-o-q to 3.6% in 4Q FY2011. It bought back 2.2% of its free float (shares) over January - June 2011 and has declared a dividend of 0.6 cents for the year, translating to a yield of 4.3% as of Aug 29.
"Ryobi's order book for the past few quarters has been relatively stable, with a net level of $78.1 million at the end of 4Q FY2011. We expect Ryobi to earn revenue and PATMI of $132.5 million and $9.1 million respectively in FY2012F. Based on a price of 13.8 cents, Ryobi trades at 0.9x price to NAV. Intrinsic value of 23 cents. MAINTAIN INCREASE EXPOSURE."
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