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Stock With Momentum: Prestar Resources

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Stock With Momentum: Prestar Resources

Post by Cals Tue 17 May 2016, 02:11

Stock With Momentum: Prestar Resources

By Asia Analytica / The Edge Financial Daily | May 16, 2016 : 1:28 PM MYT

This article first appeared in The Edge Financial Daily, on May 16, 2016.

Prestar Resources Bhd (-ve)

SHARES in Prestar Resources Bhd (fundamental: 0.7/3, valuation: 2/3) triggered our momentum algorithm for the third time this year. The counter closed one sen or 1.64% lower at 60 sen last Friday, with 755,500 shares traded.

Prestar is involved in the manufacturing and processing of steel-related products. Its net profit more than doubled to RM5.97 million in the fourth financial quarter ended Dec 31, 2015 (4QFY15), from RM2.2 million a year ago. Its 4QFY15 revenue dropped 3.6% to RM150.82 million due to lower market demand after the implementation of the goods and services tax.

For the full year, its net profit fell 13.4% to RM10.66 million from RM12.31million, mainly due to foreign-exchange losses incurred by an associate company.

The stock is currently trading at a trailing 12-month price-earnings ratio of 10.02 times and is 0.5 times its book value. It’s trailing 12-month dividend yield is at 3.28%.

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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