MIDCAP-Malaysia's Hong Leong Financial Group sees surge in 5-day volume

Mon Oct 22, 2012 2:42am EDT

Related Topics

Shares in Hong Leong Financial Group Bhd have seen the highest jump in 5-day average volume over its 30-day volume among the index components, Thomson Reuters data shows.

The stock's 5-day average volume surged to 1.3 million shares, more than twice its 30-day average volume of 438,583 shares. The data is based on Friday's close.

Of the four analysts covering the stock, three give it a 'strong buy' or 'buy' rating while one has a 'hold'. One of the four analysts has cut EPS estimates on the company for 2013 and 2014 by one percent each over the past 30 days.

The stock currently trades at 58 percent of its intrinsic value of 22.14 ringgit. It is up over 10 percent so far this year, while the broader index is up nearly 9 percent for the same period as of Friday's close.

CONTEXT:

On Oct. 11, Moody's Investors Service assigned long-term local currency and foreign currency issuer ratings of Baa1 to Hong Leong Financial Group Berhad (HLFG), with a stable outlook. This was the first time that Moody's assigned international rations to HLFG and is a measure of the company's financial strength and credit profile (Reporting By Reshma Apte; Editing by Sunil Nair)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.