Shares of ES SERVICES (HKG:01995), formerly known as Ever Sunshine Services Group Limited, plummeted by 5.10% on Tuesday, as investors remained cautious about the company's growth prospects despite a recent surge in stock price.
The sell-off came after the company's stock had rallied 35% in the previous month, regaining ground lost over the past year. However, analysts and investors seem unconvinced that the recovery can be sustained, given the company's lackluster earnings growth and forecasts.
ES SERVICES currently trades at a relatively low price-to-earnings (P/E) ratio of 6.7x, compared to the market average of around 9x in Hong Kong. This lower valuation likely reflects concerns about the company's future growth potential, as its earnings per share (EPS) growth over the past three years has been a disappointing -12% annually.
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