Share price of Supermax Corporation Bhd fell to a low of RM2 on Thursday on news the United States has barred imports. Average Target Price.
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In a note last Friday KAF Research analyst Nabil Zainoodin maintained his sell call on Supermax with an unchanged target price of RM1.
Supermax share price target. Whilst the US historically contributes around 20 of the groups turnover the impact on earnings will depend on Supermaxs ability to reroute sales to other markets and how long it takes to resolve the issue he said. According to reports disposable gloves produced by three Supermax units were banned by the United States Customs and Border Protection CBP based on information indicating its use of forced labour in manufacturing operations and its products were detained at all US entry ports since Oct 21. It reduced its target price to RM215 from RM235 previously.
Currently supermax EPS is 25 cents and share price is 173. Saw significant share price movement. According to reports the US Customs and Border Protection CBP indicated that disposable gloves produced by three Supermax units will be detained at all US entry ports from Oct 21 indicating its use of forced labour in manufacturing operations.
Dividends totalled 33 sen per share in FY11. At 1230pm Supermax shares were trading 10 sen or 493 lower at RM193 a share on the back of 133 million units traded. We reiterate Sell with lower target price of 76 sen from 81 sen pegged to lower price-to-earnings PE multiple of 17 times from 18 times on mid-FY22 earnings.
Sharemarket21 And when you think 170 is the lowest and supporting level. The dropped in asp will not affect the big four glove manufacturer as the decrease in prices will be compensated by increase in volume. Supermax will speed up the process to.
The research house has also revised down the target price to RM167 from RM272 per share previously. The next thing you discover is far below your imagination. KUALA LUMPUR Oct 25.
Shares in Supermax Corp Bhd slipped below the RM2 mark for the first time since May 2020 as investors weighed in the recent US import ban on its glove productsThe counter fell as much as 11 sen or 542 to RM192 in early trade on Monday Oct 25At 1035am it had pared some losses at RM195 still down eight sen or 394The last time the stock slipped below RM2. Shares in Supermax Corp Bhd slipped below the RM2 mark for the first time since May 2020 as investors weighed in the recent US import ban on its glove products. Supermax share price falls below RM2 for first time since May 2020 following US import ban TheEdge Mon Oct 25 2021 1111am - 4 weeks View Original KUALA LUMPUR Oct 25.
Analysts see a challenging year ahead for Supermax Corp Bhd amid US glove import ban lower average selling price ASP and the impact of prosperity tax. With stronger earnings going forward we believe Pantech will gradually raise its dividends. It revised down the target price TP for the share to RM167 from RM272 per share previously.
If the asp increase to USD 50 or USD 60 this will equivalent to production volume 22. Supermax announced on Wednesday that its net profit for the first quarter ended Sept 30 2021 1QFY22 plummeted by one third to RM63852 million compared with RM95871 million recorded in the preceding quarter due to continued drop in ASP. Ryan83 Supermax share price still strong compares to Top Glove and Hartalega heavy selling pressure.
We estimate dividends will rise to 35 sen per share in FY12 which will earn shareholders an attractive net yield of 74 at the current share price. In the coming months and maintains a buy rating with a price target of. This PE multiple is roughly 05 standard deviation below its three years historical mean she wrote in a note yesterday.
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