Aztech Global's Earnings Outlook Appears Weaker -- Market Talk

Dow Jones

2024-10-31

0315 GMT - Aztech Global's earnings outlook appears weaker, DBS Group Research's Lee Keng Ling says in a research report, citing its disappointing 3Q results. Order momentum of the manufacturer of Internet of Things devices and other products appears to be softening. The company secured order book of S$142 million as of Oct. 1, down from S$304 million as of July 30, the analyst notes. With order momentum slowing for its key customer, Aztech Global's net margins could decline to around 8%, DBS says. The bank cuts its 2024 and 2025 earnings forecasts for the company by 41% and 61%, respectively. It lowers the stock's rating to fully valued from buy and cuts the target to S$0.63 from S$1.27. Shares closed at S$0.755 on Wednesday. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 23:15 ET (03:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Order momentum of the manufacturer of Internet of Things devices and other products appears to be softening. The company secured order book of S$142 million as of Oct. 1, down from S$304 million as of July 30, the analyst notes. With order momentum slowing for its key customer, Aztech Global's net margins could decline to around 8%, DBS says. The bank cuts its 2024 and 2025 earnings forecasts for the company by 41% and 61%, respectively. It lowers the stock's rating to fully valued from buy and cuts the target to S$0.63 from S$1.27. Shares closed at S$0.755 on Wednesday. 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Order momentum of the manufacturer of Internet of Things devices and other products appears to be softening. The company secured order book of S$142 million as of Oct. 1, down from S$304 million as of July 30, the analyst notes. With order momentum slowing for its key customer, Aztech Global's net margins could decline to around 8%, DBS says. The bank cuts its 2024 and 2025 earnings forecasts for the company by 41% and 61%, respectively. It lowers the stock's rating to fully valued from buy and cuts the target to S$0.63 from S$1.27. Shares closed at S$0.755 on Wednesday. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"8AZ.SI":"Aztech Gbl"},"translate_title":"Aztech Global的盈利前景似乎疲软——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"8AZ.SI":0.9},"content_text":"0315 GMT - Aztech Global's earnings outlook appears weaker, DBS Group Research's Lee Keng Ling says in a research report, citing its disappointing 3Q results. Order momentum of the manufacturer of Internet of Things devices and other products appears to be softening. The company secured order book of S$142 million as of Oct. 1, down from S$304 million as of July 30, the analyst notes. With order momentum slowing for its key customer, Aztech Global's net margins could decline to around 8%, DBS says. The bank cuts its 2024 and 2025 earnings forecasts for the company by 41% and 61%, respectively. It lowers the stock's rating to fully valued from buy and cuts the target to S$0.63 from S$1.27. Shares closed at S$0.755 on Wednesday. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 30, 2024 23:15 ET (03:15 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0}}}