The main point of investing for the long term is to make money. Furthermore, you’d generally like to see the share price rise faster than the market But MDU Resources Group, Inc. (NYSE:MDU) has fallen short of that second goal, with a share price rise of 25% over five years, which is below the market return. Zooming in, the stock is actually down 21% in the last year.
Dalam eseinya The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
During five years of share price growth, MDU Resources Group achieved compound earnings per share (EPS) growth of 13% per year. This EPS growth is higher than the 4.5% average annual increase in the share price. Therefore, it seems the market has become relatively pessimistic about the company.
Grafik di bawah menggambarkan bagaimana EPS telah berubah dari masa ke masa (ungkapkan nilai yang tepat dengan mengklik gambar).
It’s probably worth noting we’ve seen significant insider buying in the last quarter, which we consider a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. This percuma interactive report on MDU Resources Group’s pendapatan, hasil dan aliran tunai is a great place to start, if you want to investigate the stock further.
Bagaimana dengan Dividen?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, MDU Resources Group’s TSR for the last 5 years was 46%, which exceeds the share price return mentioned earlier. And there’s no prize for guessing that the dividend payments largely explain the divergence!
Perspektif yang berbeza
MDU Resources Group shareholders are down 18% for the year (even including dividends), but the market itself is up 14%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Longer term investors wouldn’t be so upset, since they would have made 7.9%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Take risks, for example – MDU Resources Group has 1 tanda amaran kami fikir anda harus sedar.
Sekiranya anda suka membeli saham di samping pengurusan, maka anda mungkin suka ini percuma senarai syarikat. (Petunjuk: orang dalam telah membelinya).
Harap maklum, pulangan pasaran yang disebutkan dalam artikel ini mencerminkan pulangan rata-rata berwajaran pasaran yang kini berdagang di bursa AS.
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