Stock With Momentum: Eonmetall Group
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Stock With Momentum: Eonmetall Group
Stock With Momentum: Eonmetall Group
By Asia Analytica / The Edge Financial Daily | April 15, 2016 : 11:53 AM MYTThis article first appeared in The Edge Financial Daily, on April 15, 2016.
Eonmetall Group Bhd (-ve)
SHARES in Eonmetall Group Bhd (fundamental: 0.65/3, valuation: 1.1/3) triggered our momentum algorithm for the first time, jumping as much as 17.2% to one-year high of 34 sen, before it closed at 33 sen with 865,600 shares changing hands. In comparison, its 200-day average volume was only 31,518 shares.
The company returned to the black with net profit of RM2.61 million for the fourth financial quarter ended Dec 31, 2015 (4QFY15) compared to a net loss of RM765,000 a year ago. Its quarterly revenue grew nearly 24% to RM20.7 million in 4QFY15 from RM16.7 million in 4QFY14. Its share price has jumped 28.8% since it released its 4QFY15 earnings result.
Eonmetall is principally involved in manufacturing of steel products focusing on cold-rolled coils, galvanised coils and secondary flat steel products, steel storage system.
At closing of 33 sen, Eonmetall is trading at a trailing price-earnings ratio of 9.01 times and is 0.36 times its book value.
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